29 January
2024
Flutter Entertainment plc
("Flutter" or the "Company")
Flutter commences trading on
the NYSE. Proposed transition of primary listing to
US
Trading to commence on NYSE
Flutter is pleased to announce
today, 29 January 2024, the listing of the Company's ordinary
shares on the New York Stock Exchange ("NYSE"), with trading to
commence at 09.30 ET.
Flutter also confirms that the
cancellation of the secondary listing of the Company's ordinary
shares on Euronext Dublin took effect at 08.00 GMT today. Flutter
retains its premium listing on the London Stock Exchange ("LSE")
and its ordinary shares continue to trade on the Main Market of the
LSE (ISIN: IE00BWT6H894).
Flutter's shares will trade on the
NYSE under the ticker symbol: "FLUT" (CUSIP No.: G3643J 108) and
will trade on the LSE under its existing ticker symbol:
"FLTR".
Proposal to move primary listing to the NYSE
As outlined in February 2023, the
Board believes listing on the NYSE will unlock long-term strategic
and capital market benefits by:
•
Enhancing the Group's profile in the US
•
Better enabling the recruitment and retention of US
talent
•
Giving the Group access to much deeper capital markets, and to new
US domestic investors
•
Providing greater overall liquidity in Flutter shares
•
Giving optionality to pursue a
primary listing in the US - one of the criteria for access to
important US indices.
Since February 2023, management has
engaged widely with US investors, existing and potential, along
with existing shareholders globally. The feedback received has been
very supportive of moving Flutter's primary listing to the
US.
As a result, the Board believes that
the NYSE is now the optimal location for Flutter's primary listing
of its shares, and that the transition should be made as soon as
practicable. This proposal will be put to shareholders as a Special
Resolution at the 2024 AGM on 1 May 2024. Subject to shareholder
approval, the transition is expected to become effective in late
Q2/early Q3.
Following transition, the Board
intends to retain Flutter's UK listing as a secondary listing and
believes this will ensure the greatest number of investors will be
able to continue to hold Flutter shares and benefit from future
value creation. Further details will be communicated in due course
ahead of the AGM.
Peter Jackson, Chief Executive,
commented:
"With our NYSE listing effective today,
this is a pivotal moment for the Group as we make Flutter more
accessible to US based investors and gain access to deeper capital
markets. We believe a US primary listing is the natural home for
Flutter given Fanduel's #1 position in the US, a market which we
expect to contribute the largest proportion of profits in the near
future."
Enquiries
Company
Secretary: Cosec@flutter.com
Investor
Relations: Investor.relations@flutter.com
Press: Corporatemedia@flutter.com