From CNBC:

German travel company TUI received overwhelming shareholder support to move its shares from the London Stock Exchange’s FTSE 250 to Frankfurt’s MDAX. The shift reflects a “marked shift in liquidity” from the UK to Germany, with 77% of TUI transactions currently settled via Germany. Many investors believe the move will benefit TUI in multiple ways, including increased prominence in the MDAX.

TUI’s decision to move its listing from London to Frankfurt adds to a growing trend of companies ditching the London Stock Exchange in favor of other European exchanges. The UK has seen a decline in the number of companies applying to list in the city, with high-profile options like Arm, owned by SoftBank, choosing to list on Nasdaq instead. Some believe TUI’s move is specific to its situation and not indicative of a larger trend, especially given London’s status as the largest exchange in Europe by various metrics in 2023.

As London struggles with decreasing appeal for companies to list on its stock exchange, TUI’s decision to shift its listing to Germany reflects a broader trend. This shift comes on the heels of various high-profile de-listings and IPO snubs from London, including British semiconductor firm Arm’s decision to list on the Nasdaq. Although London remains the largest exchange in Europe, companies like TUI are citing specific reasons for their decisions, signaling a changing landscape in the traditional financial hub.



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