© Reuters.
DEC has announced its decision to proceed with a direct listing of its Ordinary Shares on the New York Stock Exchange (NYSE), a strategic move that comes after the company paused its initial US listing plans on October 5, 2023, amidst unstable equity market conditions. The direct listing is set to occur without issuing new shares, which aligns with DEC’s goals for a dual listing and caters to both protecting current shareholders and simplifying investment for US investors.
The decision, made today, follows in-depth consultations with advisors and institutional investors from both the US and the UK. By opting for a direct listing, DEC aims to bolster its presence in the US market, attract a wider pool of equity research analysts, enhance daily trading liquidity, and potentially open up new financing avenues that would support the company’s acquisition-driven growth strategy.
In preparation for this significant step, DEC has scheduled a General Meeting on Friday, December 4, 2023, at FTI Consulting (NYSE:) offices. At this meeting, shareholders will vote on a share capital consolidation and the adoption of new articles of association. These changes are designed to satisfy NYSE’s requirements while maintaining DEC’s premium listing segment on the London Stock Exchange.
Should the U.S. Securities and Exchange Commission (SEC) approve DEC’s Form 20-F Registration Statement, the company anticipates beginning NYSE trading soon after. This dual-listing approach is expected to provide additional financing options and elevate DEC’s profile among US investors.
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