1st Oct 2025 08:51
(Alliance News) - Diversified Energy Co PLC on Wednesday announced it plans to move its primary listing to the New York Stock Exchange, while retaining a secondary listing on the London Stock Exchange.
The Birmingham, Alabama-based oil and gas production company is a FTSE 250 index constituent in London, but it said it is substantially a US business, reporting in dollars, with all of its operating profit derived from its US operations, which is its sole growth market.
It added that its executive management team and operational headquarters are based in the US, all of its employees live in the US, and all assets are located in the US.
Diversified Energy noted that, as at the end of June, over 65% of its shares were held by US resident investors.
"The board has been evaluating the optimal primary listing venue for the company in the context of its business strategy for the benefit of all its stakeholders," it said.
The change will require a formal vote by shareholders at a general meeting, to be approved by 75% of the voting shares. Subject to the vote, the company expects the change to take effect during the fourth quarter of 2025.
The company highlighted that it plans to retain a secondary UK listing "in the best interest of its shareholders".
Diversified Energy shares were up 0.3% to 1,042.00 pence each on Wednesday morning in London. They had closed 0.4% higher at USD14.01 on Tuesday in New York.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Diversified Energy