Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) today starts trading in New York, on the NYSE under the ticker 'DEC'.
The company retains its listing in London, and it expects to remain as a FTSE 250 constituent.
It expects the new listing in New York to benefit the company and its shareholders for multiple reasons, including raising its profile in the US where it operates.
Chief executive Rusty Hutson described it as “an important milestone” and “a high-priority strategic initiative”.
The US listing will facilitate broadening the company's access to high-quality equity investors, including domestic US funds, it said, whilst highlighting that it expects to see a broader group of equity research analysts covering the company as there is a comparable set of peer companies listed in the US which have a strong US equity investor base.
“We expect the NYSE listing will facilitate increased ownership by US domestic funds over time,” Hutson said in a statement.
“The executive team plans to undertake additional investor engagement to enhance understanding and awareness of why we believe that as the natural consolidator of existing mature assets under our stewardship-based strategy, we are the RIGHT COMPANY at the RIGHT TIME.”
NYSE Group vice-chair John Tuttle, meanwhile, added: "We are thrilled to welcome Diversified Energy, a leading US domestic producer of natural gas, to our NYSE community.
“As the listing venue for many leading energy companies, Diversified Energy will feel right at home at the New York Stock Exchange."