Speciality bakery company Aryzta has announced it will terminate its secondary listing on the Irish stock market, known as Euronext Dublin, in a move that further illustrates the swing in control of the company towards Swiss investors.
Once the listing at Euronext Dublin is ended, all shares in Aryzta will be traded solely on the Swiss stock exchange.
In a note to investors on Monday, Aryzta said it had decided to terminate its secondary listing on the Dublin stock market due to the low liquidity of its Irish listing, with less than 4% of its shares traded on the Dublin exchange.
Aryzta added that the sole listing on the Swiss stock market would deliver benefits, citing that the company will have to adhere to just one set of stock market rules and regulations.
It’s been a turbulent 12 months for the Swiss/Irish bakery giant, with major upheaval at board and management level. A raft of board changes at an EGM last September mean the key power positions at the company are all held by Swiss executives today.
Although its founding roots are in the Irish Agricultural Wholesale Society (IAWS plc), Aryzta’s future looks to be in Swiss hands.