Tennent's Northern Ireland owner C&C shifts stock market listing away from Dublin
Tennent's NI parent company C&C is shifting its stock market listing from Ireland to London to address Brexit concerns and to trade where the vast majority of its investors are, chief executive Stephen Glancey has said.
Mr Glancey said the UK will remain the Irish drinks company's main market regardless of Brexit.
C&C, which makes Magners ciders, and Five Lamps and Tennent's beers, told shareholders at its annual general meeting that the company is more focused than ever on growing opportunities in the UK, not continental Europe, the USA or China.
In a trading update yesterday, C&C announced plans to cancel its Dublin listing so that it will be included in the more liquid FTSE UK Index series in London.
Mr Glancey said: "We don't have a lot of European shareholders and the biggest proportion of our shareholders are in the UK.
"All the stuff with Brexit impacts them. There's a bit in this [listing move] of making sure that we're covering options when Brexit happens. But, equally, the liquidity flow in that market is much deeper. We'll attract new shareholders."
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