United Drug seeks FTSE UK index listing

United Drug has announced that it will be seeking inclusion for its shares on the FTSE UK Index Series, a move that it believes will bolster its international growth prospects.

Following a review of its share arrangements, the company has decided to list its shares on the London Stock Exchange only, with a view to attaining FTSE UK index inclusion and increasing its profile among global investors.

As such, United Drug shares are to be delisted from the Irish Stock Exchange from October 3rd 2012 onwards, meaning the company will then be subject to British business laws such as the UK Corporate Governance Code.

The firm offered assurances that this move will have no impact on business operations, while United Drug will remain headquartered, incorporated and tax-resident in Ireland.

Liam FitzGerald, chief executive of United Drug, explained: "We believe that the changes to the listing arrangements will increase the group's attractiveness to a wider international investor base and are a natural progression for United Drug."

This comes after the firm recently agreed or completed a series of business acquisitions, with companies such as Synopia, Drug Safety Alliance, Pharmexx and Watermeadow Medical Consulting among those purchased.