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Melanie Porter December 8, 2023 3 min read
Flutter Entertainment, Ready to Exit Dublin Stock Exchange
Flutter Entertainment has announced its plans to stop trading its ordinary shares on Euronext Dublin by January 23 while preparing to enter the New York Stock Exchange
Earlier in the week, the leading online sports betting and gaming company that operates some of the most innovative, versatile, and easily distinguishable brands, Flutter Entertainment, announced that its UK and Ireland division had committed up to £8 million ($10 million) to charitable initiatives in 2023.
The gambling conglomerate also took the opportunity to announce upcoming funding campaigns in the books for its three main three brands, Paddy Power, Sky Betting & Gaming, and Betfair.
During a Bloomberg podcast, Flutter’s chief executive operator, Peter Jackson, emphasized the company’s effective strategy and excellent capacity to branch out into new verticals while discussing FanDuel’s development and further plans aimed at the US market.
Now, the company that is determined to streamline its operations and minimize regulatory complexities has announced that it will only maintain two stock exchange listings. Here is a quick breakdown of the fresh information.
Flutter to Cancel Its Euronext Dublin Listing by January 23, 2024
According to the latest news which follows the previous November announcement, Flutter’s ordinary shares will stop being traded on Euronext Dublin on January 23, 2024. After that, a trading suspension will be implemented to allow the settlement of all pending trades.
The impending delisting from the Dublin stock exchange will also translate to Flutter’s removal from the Eurostoxx index by Stoxx, which will go into effect starting December 18, 2023.
This does not, however, mean that Flutter’s premium listing on the London Stock Exchange will suffer. The same goes for the company’s inclusion in the FTSE 100 index.
In other words, Flutter Entertainment’s shares will keep being traded on the London Stock Exchange under the ticker symbol FLTR.
Getting Ready for the NYSE Listing
While preparing to bid farewell to the Dublin stock exchange, Flutter is also getting ready to list its ordinary shares on the New York Stock Exchange (NYSE) by January 29, 2024.
This is a strategic decision that perfectly blends into Flutter’s plans to optimize its operations while capitalizing on the strengths of the NYSE market and still holding on to its presence in the UK market.
The NYSE listing is currently waiting for the US Securities and Exchange Commission’s ruling over the Form 20-F Registration Statement submitted by Flutter.
Once it receives the green light for the NYSE, the company will trade under the symbol FLUT. On January 18, 2024, Flutter will also introduce a brief trading update for the three months ending December 21, as well as the full year 2023.
The full-year results for the 12 months ending December 31, 2023, will be published under US GAAP on March 26, 2024.