Overview

• The board proposed a harmonised structure that replaces US ADRs on Nasdaq with a direct NYSE listing of ordinary shares, enabling trading across New York, London and Stockholm.
• AstraZeneca will remain headquartered and tax resident in the UK with its primary London listing and FTSE 100 inclusion unchanged.
• Shareholders will vote on November 3, 2025, after the company published a circular outlining the changes.
• Implementation is targeted for early February 2026, with reports pointing to February 2, subject to shareholder and regulatory approvals.
• The company cited the deeper US investor pool as the rationale, while analysts warned the shift could pull liquidity from London and spur copycat moves.