By Anthony O. Goriainoff
MaxCyte said it would propose a delisting of its shares on London's AIM to shareholders but will retain its listing on the Nasdaq Global Select Market.
The cell-engineering company said the board believed that delisting has the potential to enhance the liquidity of trading in the common stock on Nasdaq and reduce the duplication of costs arising from retaining two listings. It added that the vast majority of trading on its common stock--around 94% over the past year--takes place on the Nasdaq exchange, and that the future benefits of staying on AIM are limited.
The company said it has kept a listing on AIM for over nine years but that following its listing on Nasdaq around four years ago its trading in London fell to a level which the board believes no longer justifies maintaining a dual listing.
Still, the company said it would continue to engage with U.K.-based shareholders.
The company said it will consult the delisting proposal with shareholders at its annual meeting, scheduled for June 18, and that if approved it expects its last day of trading on AIM to be June 25.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
April 15, 2025 03:01 ET (07:01 GMT)
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