Tourexpi
After around ten years, the TUI AG share returns to
the Prime Standard of the Frankfurt Stock Exchange today. TUI Group CEO
Sebastian Ebel, together with CFO Mathias Kiep, opened trading on the Frankfurt
Stock Exchange by ringing the stock exchange bell in the trading hall. The
initial TUI share price was € 7,73. The Group expects to be admitted to the
MDAX on 24 June. The listing on the London Stock Exchange will also end then.
Sebastian Ebel, CEO of TUI Group: "Today is a
milestone for TUI, reflecting the transformation of the Group. As of today,
Frankfurt is our stock exchange again. We are thus placing a clear focus on one
stock exchange listing – instead of two previously two. This increases the
visibility and attractiveness of our share for our global investors. As a
brand, TUI is at home in the world, with a strong presence in Europe and in
destinations in more than 100 countries around the world, as well as its headquarters
and stock exchange listing in Germany. We want to expand our international
presence, continue to grow profitably and support this growth with simpler
structures. By doing so, we will create more value for the company, its
employees, customers and shareholders."
From a tour operator based in Hanover and Berlin,
TUI has successfully developed into a leading global integrated tourism group
with five airlines, three cruise lines, internationally renowned hotel brands
and around 400 hotels of its own, as well as a platform for experiences and
activities. TUI is active worldwide. In the European source markets, TUI
advises its customers in more than 1,200 travel agencies as well as via service
centers and online sales channels. The integration of over-the-counter distribution
with TUI's own travel agencies, franchise partners, independent travel agencies
and online distribution guarantees customers a wide range of products and
equally high quality advice and individual service. TUI will continue to stand
for this in the future.
The future is geared towards profitable growth,
with more customers, new products and new markets to be developed.
Digitalisation offers many new opportunities for the tourism group. Structures
are becoming simpler and leaner where there is no impact on the customer or
where customers are relieved supported by technical innovation and
digitalisation. Many countries where the TUI brand is already well known, are
now exclusively destinations for holidaymakers. "We also want to develop
them as local source markets for customers and use the awareness of the TUI
brand for new growth," says Sebastian Ebel. In addition, dynamically
packaged products and app sales are to drive the Group's growth.
Quality and service in all areas will be expanded
and strengthened. This also includes the sustainable transformation of all
business segments. TUI has set itself clear targets for reducing emissions for
all businesses and has had these targets for 2030 reviewed and confirmed by the
independent SBTi initiative.
Mathias Kiep, CFO of TUI Group: "The change of
the dual listing structure and the return to the Prime Standard in Frankfurt
was a carefully considered decision that was supported by our shareholders with
an impressive majority (98.35 percent). With today's step, we are simplifying
structures, consolidating liquidity in one trading venue and thus strengthening
TUI and its global brand presence. We want to continue to grow successfully and
TUI should remain an attractive long-term investment for current and new
shareholders."
Since the merger with the former British TUI Travel
Plc at the end of 2014, the TUI share has been listed in the premium segment in
London, as well as on the regulated market of the Hanover Stock Exchange and on
the OTC market in Frankfurt. The decision to list in London in 2014 was a key
factor in the successful takeover and integration of the former TUI Travel Plc
into TUI Group. However, in the course of the Group's transformation, share
custody and liquidity of the TUI share on the stock exchanges have increasingly
shifted towards Germany, prompting investors to initiate initial discussions on
a change to the dual listing. As announced last year and approved by a large
majority at the Group's 65th Annual General Meeting in February 2024, the
previous dual listing structure will cease. The change of stock exchange
location from London to Frankfurt has no impact on TUI's companies and
activities in the UK market. It This market is and will remain a core market
for the Group.
Image
Credit: © TUI Group
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