Elan to make NYSE its main listing

IRISH pharmaceutical company Elan is to re-balance its share offering; by making its presence on the New York Stock Exchange (NYSE) its primary listing and Dublin’s ISEQ its secondary listing.

Previously, the two listings were of dual status. The Dublin-headquartered owner of the Tysabri multiple sclerosis treatment delisted from the London Stock Exchange in 2009.

However, the company’s management has stressed that this move is not intended to pave the way for a delisting from the Irish Stock Exchange; with the decision made on the basis of a review of the company’s listings and shareholder base.