UK’s Okyo Pharma has announced plans to delist from the London Stock Exchange in May. The pharmaceutical company – specializing in ophthalmology treatments – has highlighted the tepid trading volumes and low valuations on the exchange as the primary reasons for this move. Okyo will be taking its American Depository Shares (ADSs), which are traded on the Nasdaq, with them and listing them outright on the exchange instead.
The move to decamp from the London Stock Exchange mirrors the possible consequences of a falling appeal for the bourse, observed by investors and financial executives. Famed betting company Flutter Entertainment, as well as Dublin-based building material manufacturer CRH, is also pondering the idea of leaving the bourse in favor of the US market. Okyo Pharma will thus be leaving on May 12 after they place the proposal to consolidate all 65 ordinary shares into a new share of no par value to shareholders.
Okyo Pharma is a British biopharmaceutical company that focuses primarily on ophthalmology treatments. Founded in 2018 by three British entrepreneurs, the company has come to develop a vast variety of pioneering therapies that aim to revolutionize the treatment standards in ophthalmology. By clinching multiple grants and awards in addition to hefty fundraising rounds, the company is unarguably posing as a formidable player in the field and having a significant impact on healthcare.
At the helm of these transformational efforts, the company’s founders, Dr Barnabas Kwange, Dr Timothy Mills and Mr Ali Memarzadeh, have been key drivers in the founding and development of Okyo Pharma. Known as much for their expertise in the field of biotech as for their entrepreneurial spirit, these three visionaries have actively led the company in its mission to provide access to life-changing treatments for millions.