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Vaccine developer Valneva plans to delist from Vienna Stock Exchange

Valneva SE said it plans to delist from the Vienna Stock Exchange, but will remain on Euronext Paris.

"Vienna will continue to be an essential operational hub, but we need to focus on the best capital markets for life sciences to support our ambitious growth plans," said Valneva CFO David Lawrence.

The Saint-Herblain, France-based biotechnology company's ordinary shares have been trading on VSE since May 28, 2013, and are listed on the exchange's Official Market.

Valneva's supervisory and management boards have approved the delisting, which will be subject to shareholder approval at the company's June 27 annual meeting. After the meeting, Valneva will file a delisting application with the VSE.

Further, the company's management board decided to terminate trading of its preferred shares on VSE's Third Market, to occur concurrently with the delisting of the ordinary shares.

The effective date of the delisting could occur in the fourth quarter of 2019, Valneva said.

Valneva develops and sells vaccines for infectious diseases with major unmet needs.