Drinks giant Diageo is to delist from the Irish Stock Exchange, the latest firm to cut ties with the Dublin market. The Guinness owner, which is lightly traded on Euronext Dublin as the Irish Stock Exchange is now known, will drop its listing from there and Paris, it said in a statement on Thursday.
The move is subject to the approval of Euronext Dublin, Diageo said. “The delistings will not have any impact on Diageo’s day-to-day operations in France or Ireland,” it added.
While the move has little impact day-to-day on the Dublin market given how rarely the stock trades there, it adds to the growing list of companies exiting the market. Building materials giant CRH is set to become the largest firm to leave as it seeks admission to stock indices in the US, while a host of others have left in recent years.
“It is anticipated that Diageo’s delisting from Euronext Paris will take effect on or around May 26th, 2023, and that Diageo’s delisting from Euronext Dublin will take effect on or around May 30th, 2023, subject to the approval of Euronext Paris and Euronext Dublin respectively,” the company said.
The company’s listings on the London Stock Exchange and in New York are not impacted by the move.
