(Alliance News) - Indivior PLC on Thursday confirmed that it has successfully transferred its primary listing to the Nasdaq Stock Market in the US.
The Chesterfield, Virginia-headquartered pharmaceutical maker had originally said that it was considering a move in February, telling investors that it would consult with shareholders on the idea.
Having completed the consultation, Indivior announced in April that it had decided to seek approval from shareholders for the proposed transfer of its primary listing. A special resolution was passed on May 23, transferring Indivior's listing on the London Stock Exchange to a standard from premium.
"We are pleased to achieve this key milestone for Indivior. A US primary listing on Nasdaq best reflects the profile of Indivior's business, which is focused on growing its leadership position in the US addiction treatment market," said Chair Graham Hetherington.
"We appreciate the strong support received from shareholders for this initiative and look forward to capitalizing on the expected benefits of this move, including greater investor awareness of Indivior's leadership position in addiction treatment and its opportunities for continued strong growth."
Indivior shares were up 1.4% at 1,314.00 pence each in London on Thursday morning.
By Holly Beveridge, Alliance News senior reporter
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Indivior (INDV)