15th Apr 2025 14:59
(Alliance News) - MaxCyte Inc on Tuesday announced its intention to cancel trading on London's AIM market, while retaining its US listing on the Nasdaq Global Select Market.
The Rockville, Maryland-based cell engineering technology company said, if approved by shareholders at its annual general meeting on June 18, its last day of trading would be June 25.
In response, MaxCyte shares were down 6.3% at 180.00 pence each in London on Tuesday afternoon. In New York, the stock was down 6.5% at USD2.43.
"The board of directors of the company notes that the vast majority of trading in the common stock now occurs through Nasdaq and believes that the AIM delisting has the potential to enhance the liquidity of trading in the common stock on Nasdaq and reduce duplicative costs which arise from retaining two listings," MaxCyte explained.
More than 94% of the average daily volume of trading over the past twelve months has taken place on Nasdaq, the company added.
MaxCyte said its AIM admission had been an "important and effective stepping stone in the company's development". It will "continue to engage" with UK-based shareholders following its proposed delisting.
By Emily Parsons, Alliance News reporter
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