Flutter Entertainment will consult shareholders on plans to pursue an additional stock market listing in the United States.
The UK and Ireland-listed operator will seek shareholder feedback on a proposal to pursue an additional US listing for the group in place of a limited listing of its main brand, FanDuel.
The company said Tuesday (Feb. 14) that FanDuel is now its biggest business segment, contributing a substantial and growing proportion of the group’s overall revenue.
“Among several benefits, the Flutter Board believe that an additional listing would enhance Flutter’s profile in the US; better enable the recruitment and retention of US talent; give the Group access to much deeper capital markets, and to new US domestic investors; and provide greater overall liquidity in Flutter shares,” said the company.
Consultations with shareholders are expected to begin immediately and if there is broad support for the proposal, the additional US listing would take precedence over any plan to list a small shareholding in FanDuel.
Shares in Flutter Entertainment plc. (LSE:FLTR) were trading 1.67 per cent higher at 12,755.00 pence per share in London early Tuesday morning.