Diageo, the world’s largest spirits company and owner of the iconic Irish stout brand, Guinness, has made the decision to give up its Dublin stock listing. This move comes as part of a wider trend of companies abandoning their secondary listings on smaller exchanges, in favor of focusing on larger exchanges like the New York Stock Exchange and the London Stock Exchange. The decision is expected to have significant implications for Diageo’s Irish investors, and raises questions about the future of the Irish stock market. In this article, we explore the reasons behind Diageo’s decision, the potential impacts it could have on the Irish stock exchange, and what it means for the wider business community.
Diageo plc, the maker of Guinness, plans to apply for the delisting of its ordinary shares from the Euronext Paris and Euronext Dublin stock exchanges. The delistings are expected to take effect in late May, and investors who own shares listed on these exchanges should consult with their investment advisors. However, the company’s listings on the London Stock Exchange and the New York Stock Exchange will not be affected by this move. Diageo’s decision to delist was made following a review of trading volumes, costs, and administrative requirements. The delistings are subject to approval by the relevant exchanges and are expected to take effect on or around May 26, 2023, in Paris and May 30 in Dublin. The move will not impact the company’s day-to-day operations in France or Ireland.
In conclusion, Diageo’s decision to delist from the Dublin stock exchange reflects a larger trend of companies streamlining their operations and focusing on their core markets. While some may see this move as a loss for Ireland’s financial sector, it should be noted that Diageo remains committed to its operations in the country and will continue to invest in its Irish workforce and facilities. As consumers around the world continue to enjoy the iconic taste of Guinness, we can be sure that Diageo will remain a key player in the global beverage industry.
