IN BRIEF: XP Power to join FTSE 250 as Carnival exits amid unification
Carnival PLC - Miami, Florida-based cruise operator - Carnival is to exit the FTSE 250 with effect Wednesday, and will be replaced by Singapore-based maker of power control systems XP Power Ltd. Carnival in December announced it would pursue simplifying its existing Carnival Corp & PLC dual-listing structure, which currently sees shares trade separately in New York and London, to a single company Carnival Corp Ltd. This will be solely trade on the New York Stock Exchange. "Unification will eliminate the different pricing between the two share listings, simplify governance, reporting and administrative complexity, and is expected to increase our company's weighting in key US stock indices and reduce costs – together strengthening our ability to deliver long-term shareholder value while preserving our core business strategy and key shareholder voting and economic rights," Carnival says. Read More