TUI AG 
At the virtual Annual General Meeting, TUI achieved the required majority with 93.3 percent approval, as TUI Supervisory Board Chairman Dieter Zetsche announced in Hanover on Tuesday. Since 2014, TUI had been listed on the London LSE, the Hanover Stock Exchange and the OTC market of the Frankfurt Stock Exchange due to the merger with the British TUI Travel. However, the majority of share trading has now shifted to Germany, TUI explained the move. Investors no longer considered the dual listing to make sense. The main listing on the largest German stock exchange in Frankfurt was advantageous in terms of liquidity and index membership of the share.
Trading of the share in the Prime Standard of Deutsche Börse Frankfurt is scheduled to start on April 8. In June, the world's largest tour operator could then move into the second-line index MDax. Even before the coronavirus crisis threatened the company's existence, TUI shares were already falling - after peaking at 54 pounds in the travel boom year of 2018, they fell to just over four pounds in London last fall.
The travel group is a prestigious new addition for the Frankfurt stock exchange operator. Deutsche Börse recently lost a number of renowned German companies. For example, the American-German gas giant Linde withdrew from regulated Frankfurt trading in favor of the New York Stock Exchange. The Rhineland-based health shoe manufacturer Birkenstock opted for New York for its IPO. The Mainz-based vaccine developer BioNTech preferred the US technology exchange Nasdaq to Frankfurt. On the other hand, tank supplier Renk was the first newcomer to the stock market this year to make its debut last week. According to insiders, the cosmetics group Douglas could make the leap to the Frankfurt Stock Exchange in the first quarter.
(Report by Ilona Wissenbach, Alexander Hübner, edited by Ralf Banser. If you have any questions, please contact our editorial team at frankfurt.newsroom@thomsonreuters).
