Financial information provider Thomson Reuters plans to delist from the London Stock Exchange and Nasdaq as part of its initiative to unify the company's capital structure.
Thomson Reuters in a regulatory filing said that the board of directors have decided to unify the company's capital structure as it will consolidate and improve the trading of the company's shares.
"Our Board has determined that consolidating the trading of our shares into a single, global and deep pool of liquidity, listed on the Toronto and New York Stock Exchanges, is in the best interests of all shareholders," Thomson Reuters Chief Executive Officer Thomas H Glocer said.
Thomson Reuters, which is listed on the New York Stock Exchange, the Toronto Stock Exchange, the London Stock Exchange and Nasdaq has said that it would no longer be listed on the London Stock Exchange and Nasdaq.
Thomson Reuters would continue to remain listed on the Toronto Stock Exchange and the New York Stock Exchange.
Thomson Reuters' UK shareholders now only constitute 5 per cent of the combined shareholder base.
As part of this move, Thomson Reuters may buy back shares worth up to $500 million.