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TUI shares return to Frankfurt bourse
After around ten years, TUI AG shares return to the Prime Standard of the Frankfurt Stock Exchange today.
TUI Group CEO Sebastian Ebel, and CFO Mathias Kiep opened trading on the Frankfurt Stock Exchange by ringing the stock exchange bell.
The initial TUI share price was € 7.73.
The Group expects to be admitted to the MDAX on 24 June, which is when the listing on the London Stock Exchange will end.
Sebastian Ebel said: “Today is a milestone, reflecting the transformation of the Group. As of today, Frankfurt is our stock exchange again as we place a clear focus on one stock exchange listing.”
“We want to expand our international presence, and support this growth with simpler structures.”
Since the merger with British TUI Travel Plc, TUI shares have been listed in the premium segment in London, as well as on the regulated market at Hanover Stock Exchange and the OTC market in Frankfurt.
The decision to list in London in 2014 was a key factor in the successful takeover and integration of the UK business.
The move to delist from the LSE was approved by a large majority at the Group’s 65th Annual General Meeting in February.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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