3rd Nov 2026 12:13
(Alliance News) - Allergy Therapeutics PLC shares on Tuesday plunged after the company said it intends to delist from AIM.
Shares in the biotechnology company focused on allergy immunotherapies fell 57% to 1.50 pence on Tuesday morning in London.
Allergy Therapeutics said it will propose a special resolution to delist from AIM at its next annual general meeting, expected in January. If passed, the decision would be effective five business days later. The company said its major shareholders have already said they will support the proposal.
After delisting, the company plans to re-register as a private limited company. However, it said it will continue to explore a primary listing on the Hong Kong stock exchange.
Allergy Therapeutics said the decision follows a review of its strategic direction and organisational structure.
The company said its market capitalisation had been negatively impacted by challenging financial market conditions, a limited free float, and a lack of liquidity in its ordinary shares, which it says does not reflect its value.
The company also cited the costs of maintaining its AIM listing, management time, and regulatory burden. Moreover, it said it does not expect to raise further significant funds through AIM in the short or medium term.
By Camilla Borri, Alliance News reporter
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