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Takeda's American depositary shares to trade on NYSE


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Takeda's American depositary shares to trade on NYSE

Takeda Pharmaceutical Co. Ltd. said it expects the listing and trading of its American depositary shares on the NYSE to begin Dec. 24.

The ADSs, which trade over-the-counter, will now trade under the ticker TAK.

Tokyo-based Takeda will keep its headquarters in Japan and its primary listing on the Tokyo Stock Exchange, as well as its current listings on local stock exchanges.

Takeda, which is in the process of acquiring Dublin-based biotechnology company Shire PLC, said its new NYSE listing will facilitate ownership of Takeda shares following the deal, expected to complete Jan. 8, 2019.

The dual listing "will provide wider capital markets access with expanded trading hours for our investors worldwide," Takeda CFO Costa Saroukos said.

The Bank of New York Mellon will continue to serve as the depositary bank for the ADS program.