OKYO Pharma to delist from LSE

Ophthalmology-focused bio-pharmaceutical company OKYO Pharma said on Tuesday that it has applied to delist from the London Stock Exchange.

"The company has decided to request the voluntary cancellation of listing as the volume of trading of the ordinary shares on the main market is negligible and does not justify the associated costs," it said.

The delisting will have no impact on its American Depositary Shares, which are traded on the Nasdaq.

At 0835 BST, the shares were down 9.3% at 1.86p.

Victoria Scholar, head of investment at Interactive Investor, said: "This abandonment of its London listing adds to worries about corporate flight away from the London Stock Exchange post Brexit.

"WANdisco said last month it is proactively exploring the United States to create a dual listening. Arm Holdings abandoned London as a potential location for its IPO, FTSE 100 building business CRH also said it was planning to list in the US and Flutter has been considering a secondary listing in New York.”