Ryanair to withdraw from London Stock Exchange next month due to Brexit

Ryanair has confirmed plans to remove itself from the London Stock Exchange due to its high fees and low number of transactions.

The airline said it will just be listed on the Euronext Dublin stock exchange, with the last trading day on December 17. It currently has dual-listed status.

Ryanair said: As indicated in our interim results, and following the subsequent involvement of shareholders, Ryanair has decided to request the delisting of its London listing, as the trading volume of its shares on the London Stock Exchange has reduced the costs associated with such does not justify listing and admission to trading, and to consolidate trading liquidity into a single regulated market for the benefit of all shareholders.

The company had put forward the idea of ​​a scrap earlier this month and said Brexit played a key role in the decision.

Speaking to results in early November, the company said: The LSE migration is consistent with a general trend for EU company shares trading post-Brexit and may be more acute for Ryanair as a result of the long-standing non-EU ban -citizens buying Ryanair common stock will be extended to UK nationals after Brexit.

In September, the airline began selling about a million shares bought since January 1 by non-EU nationals, mainly UK investors due to corporate rules and Brexit.

The airline has banned non-EU nationals from taking a stake in the company since 2002.