(Finance) – Individuala pharmaceutical company that develops drugs to treat addictions and serious mental illnesses, is entering formal consultations with shareholders on potential transfer of primary listing from the UK to the US in the summer of 2024.
The board believes that a primary listing in the US could be beneficial to Indivior as it: reflects the group’s current and future growth opportunities for its proprietary treatments (SUBLOCADE, PERSERIS and OPVEE), which are concentrated in the US; could be attract more investors and analysts Americans further raising the group’s leadership profile in the treatment of addictions in the US capital markets; would allow theinclusion in the main US indices in time; It would reflect the growing percentage of the group’s equity capital owned by US-based investors, which currently approaches 50%.
The board “is aware that this is an important topic for shareholders and is aware that a decision to move forward requires the support of 75% of shareholders present and voting (in person or by proxy),” it said in a statement. If the consultations indicate a strong level of shareholder support, the board intends to present a formal resolution that would facilitate a primary listing in the United States in the summer of 2024.
The board intends anyway maintain Indivior’s listing in the UK as secondary listing after any transition to a primary listing in the United States.