Diversified Energy has become the latest company to ditch its primary London listing in favour of New York.
The FTSE 250 American gas and oil producer said it had concluded that “the US market is the natural long-term primary listing venue for the company” and that switching to New York with a secondary listing in London was “in the best interests” of its shareholders.
Diversified is based in Birmingham, Alabama, and operates tens of thousands of small old gas wells across the southern and Appalachian regions of the United States.
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It listed in London in 2017 and has had a rocky time of it in recent years, being targeted by short-sellers and facing scrutiny from media and politicians over its environmental record and decommissioning liabilities.
