Ryanair drops London listing, citing costs

Irish discount airline Ryanair has confirmed it will drop its London Stock Exchange listing next month.

It said the volume of trading did not justify the costs related to retaining an additional listing.

The company cited falling trading volumes when it first announced the plan earlier this month.

It deals a blow to London's status as a global financial center after Brexit

The move comes after Ryanair's British shareholders' voting rights were restricted following the UK's EU departure.

And followed miner BHP saying in August it would do away with its dual-listed structure.

Ryanair Chief Executive Michael O'Leary said last month that Brexit had pushed EU stock ownership of the company below 50%.

Adding that the European Commission wanted it quote "to be seen to be taking action".

Ryanair said it will continue to hold a primary listing on Euronext Dublin.

And that the last day of trading of its shares on the LSE would be December 17.

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