Flutter Entertainment began trading on the New York Stock Exchange (NYSE) this morning. The company has listed its ordinary shares under the ticker symbol FLUT.
Flutter said it will continue to trade on the London Stock Exchange (LSE) with both its ordinary and premium shares.
The company noted that it has made changes to its secondary listing on Euronext Dublin and said, “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.”
Company Chief Executive Peter Jackson described this achievement as a key moment for the company.
He commented further by saying, “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.”
Plans are in the works for the company to eventually transition its primary listing to the US.
The company said in a statement, “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.”
Jackson further explained why Flutter has considered the change.
He said, “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.”
