TUI AG (LSE:TUI), the airline, moved around 4% higher on its first day as a solely German stock, having exited its London listing.
Shareholders voted in February to remove its quote in London, where it was in the FTSE 250, and instead become exclusive to the Frankfurt Stock Exchange.
As the stock jumped to €7.90, the immediate surge reinforced the issue that other companies have brought up - London is undervaluing its listings.
From small caps to FTSE 100 constituents, many have gone across the Atlantic, been taken private or set up listings in mainland Europe in response to the poor valuations.
However, the issue reached a new level today when Shell, the FTSE 100's largest company, warned it would consider other locations for listing if its London valuation doesn't improve.