Indivior PLC (INDV.L), a pharmaceutical company, said on Monday that it will cancel its secondary listing on the London Stock Exchange, or LSE, with effect from July 25. The company also noted that it will maintain its current primary listing on the Nasdaq.
The move aims to reduce costs and better align with the the company's U.S. focused business.
The company has recognized that liquidity on Nasdaq now far outweighs liquidity on the LSE. As of May 27, trading on the Nasdaq accounts for around 75% of total trading volume across both exchanges over the last 30 days.
In addition, Indivior noted that over 70% of its shares are now held by shareholders located in the U.S., and over 80% of its net revenue is generated from the U.S.
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