The Irish airline's move comes after its British shareholders' voting rights were restricted post-Brexit and follows miner BHP saying in August it would do away with its dual-listed structure and make Sydney its main listing.
Ryanair had said in 2020 that UK nationals, like other non-EU nationals, would from January 2021 no longer be permitted to acquire its ordinary shares – a decision taken to ensure the airline remains majority EU-owned and retains full licensing and flight rights in the bloc after Brexit. Monthly trading volume in Ryanair's London-listed shares averaged 20.5 million in the 10 months to end-October, down almost 68% from the average turnover in 2020, according to Reuters calculations based on Refinitiv data.Ryanair trading volumes in Dublin have also fallen this year but to a lesser extent. In the 10 months to end-October monthly volume there averaged 35.5 million, down 44% on 2020.
"Many firms may be looking at the FTSE and the sheer underperformance and the high costs involved in listing here," said a sales trader at a local brokerage.
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