AstraZeneca Plans Direct US Stock Listing While Maintaining UK Headquarters

AstraZeneca will upgrade its US equity presence by directly listing ordinary shares on the New York Stock Exchange (NYSE), moving away from its current American Depositary Receipts structure on Nasdaq1.

Shares will be tradeable across three exchanges:
NYSE (US), London Stock Exchange, and Nasdaq Stockholm, creating a harmonized global listing1.

The company will retain its headquarters, main listing, and tax residency in the UK and continue its inclusion in both the FTSE 100 and OMX Stockholm 30 indices1.

AstraZeneca's leadership states the move is designed to give access to a broader range of global investors and support long-term sustainable growth1.

43% of AstraZeneca's revenue comes from the US, with only 23% from Europe, reflecting the significance of US capital markets to the company1.

Recently, AstraZeneca has also pledged a $50 billion investment in US manufacturing operations over the next 5 years, while pausing a £200 million research site in Cambridge (UK), signaling a shift in strategic focus1.

Industry experts warn the listing is a potential blow to the UK market, reflecting the challenging environment for pharmaceutical business innovation in the UK1.

Sources:

1. https://www.soci.org/news/2025/9/astrazeneca-plans-direct-us-share-listing-but-keeps-headquarters-in-uk