Dublin-based C&C is planning to move the Magners cider maker’s listing to the London Stock Exchange, hailing the capital for its “deep pool” of investors.
The London and Dublin dual-listed firm, which is also behind Tennent’s lager, will seek inclusion in the FTSE 250 index and delist from Euronext Dublin.
C&C’s boss Stephen Glancey said: “We think this will give us much more potential to attract new shareholders. There is a deep pool of investors looking for more opportunities, and we will get wider analyst coverage in London.”
Around 40% of current shareholders are in the UK, many of whom would find a sole London listing easier once the UK leaves the EU, Glancey said.
A large share of sales and profits are generated in the UK following C&C’s acquisition of wholesalers Matthew Clark and Bibendum last year.
Trading between March 1 and today was in line with expectations at C&C.
The company will keep its head office in Ireland.
