Proactive Investors - easyJet PLC (LON:EZJ) should explore another listing in the US with the aim of closing its valuation gap Ryanair (LON:0RYA), the airline’s founder has argued.
Stelios Haji-Ioannou, who founded easyJet in 1994, told the Mail on Sunday that a secondary listing on the Nasdaq exchange would only make sense for the airline.
He said: “Why would you object to a secondary listing on Nasdaq?
“London hasn’t lost anything. You’re just attracting more shareholders from the States."
Ryanair is listed in both Ireland and the US, with Michael O’Leary’s airline fetching a £19.7 billion valuation, compared to easyJet’s £4.3 billion.
“I often look at the value of Ryanair and wonder why it is higher than easyJet,” Haji-Ioannou added.
Despite still boasting a £650 million stake in easyJet, Haji-Ioannou no longer has the power to veto board decisions at the airline, meaning any decision to shake up its listing would be solely down to the board.
Such a move to list in the US would come after other firms have left London in favour of overseas markets though.
This includes rival airline Tui, which voted to move last week, alongside betting firm Flutter Entertainment, due to rehouse its primary listing later this year, plus fellow FTSE 100 constituent CRH (LON:CRH) which already made the move.
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