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Highlights
Indivior announces its intention to delist from the London Stock Exchange
The company will retain its primary listing on the Nasdaq under ticker INDV
London delisting aligns with Indivior's geographic revenue concentration and trading volumes
Indivior PLC (LSE:INDV) (Nasdaq:INDV), a pharmaceutical firm listed on the FTSE 350 index, has announced plans to cancel the secondary listing of its ordinary shares on the London Stock Exchange. The company will maintain its primary listing on the Nasdaq. Indivior operates in the healthcare sector and focuses on treatments for substance use disorders, with its flagship product SUBLOCADE primarily marketed in the United States.
The move follows an ongoing strategic reassessment by the company since completing its transition to a U.S. primary listing. Indivior's board cited changes in shareholding distribution, trading liquidity, and cost structure as key factors behind the decision.
Board Cites Alignment with Core Market
Indivior’s board indicated that maintaining a dual listing no longer reflects the current profile of the business. Following a circular released in early May last year, the company noted that the secondary London listing would be reviewed periodically. That review has now concluded with a decision to simplify the company’s structure.
The board highlighted that the company’s revenue is now predominantly generated in the U.S. Moreover, the largest proportion of shareholders by value is based in the U.S. as well. Liquidity on Nasdaq has grown significantly in recent periods, surpassing the volume of trading on the London Stock Exchange.
Cost and Complexity among Delisting Factors
The decision to cancel the London listing also comes amid efforts to reduce administrative requirements and operational complexity. The company emphasized that the duplication involved in maintaining two listings leads to additional costs without proportional benefits.
By focusing on a single primary listing, Indivior aims to streamline regulatory obligations and ensure that material announcements can be better aligned with market hours of its U.S. peers.
Effective Date for LSE Delisting
In line with listing regulations in the United Kingdom, Indivior has provided advance notice of the planned cancellation. The delisting from the London Stock Exchange is expected to become effective from the morning of a set date in late July. Ordinary shares will no longer be admitted to trading on the main market of the LSE after that time.
Shareholders will continue to have access to the company's shares through Nasdaq, where trading volumes have recently increased. The company does not anticipate any impact on the rights of existing shareholders as a result of the delisting.
Indivior Chair Issues Statement on Transition
Chair of the board, David Wheadon, noted that the decision reflects the business’s current scale and operations. He stated that the alignment with a single U.S. listing marks a significant milestone and supports Indivior’s forward strategy.
The delisting process has been structured to ensure that shareholders have sufficient notice to adapt. The company reiterated that this move aims to reflect its business focus and simplify its regulatory and reporting framework.
The announcement marks another step in the company's evolution as it continues to operate under the Nasdaq ticker INDV. Indivior’s ongoing presence in the FTSE 350 is expected to conclude following the effective date of the London delisting.
