UK: Allied to list shares on NYSE
The UK-based drinks giant Allied Domecq announced yesterday that it plans to list its ordinary shares on the New York stock exchange in the form of American Depositary Shares.
The move will not, however, see any new Allied Domecq shares being issued in connection with the listing.
"The United States is our largest market; our brands are very well known there," a spokesman for the company said.
"We've already had a programme to increase our U.S. shareholder base, which we have done successfully. It's an obvious next step."
Philip Bowman, chief executive, said: "Allied Domecq is a leading global player in spirits, wine and quick service restaurants. Our listing will increase our visibility in North America, our largest market, and enable the company to capitalise on the strong consumer and investor interest in our branded businesses. The listing will give US debt and equity investors as well as our employees and business partners a greater opportunity to participate in Allied Domecq's success."
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