BRIEF—Takeda announces NYSE listing

Japan’s largest drugmaker Takeda Pharmaceutical today announced that the listing and trading of its American Depositary Shares (ADSs) on the New York Stock Exchange is expected to commence on December 24, 2018.

Takeda’s ADSs currently trade over-the-counter. The ADSs will now trade under the ticker symbol “TAK” and The Bank of New York Mellon will continue to act as the depositary bank for the ADS program.

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

“Our dual listing on the NYSE and TSE reflects our position as a leading global biopharmaceutical company and will provide wider capital markets access with expanded trading hours for our investors worldwide,” said Costa Saroukos, chief financial officer of Takeda, adding: “We look forward to closing our acquisition of Shire in the coming weeks and driving long-term value for our shareholders as a combined company.”

With its listings in Japan and the USA, Takeda will be able to access two of the world’s largest capital markets and is the only pharmaceutical company listed on both the TSE and the NYSE, the company said.

The new NYSE listing will also facilitate ownership of Takeda shares following its acquisition of Shire which, subject to the Shire scheme of arrangement being sanctioned by the Jersey court, is expected to complete on January 8, 2019.