After around ten years, the TUI AG share returns to the Prime Standard of the Frankfurt Stock Exchange today. TUI Group CEO Sebastian Ebel, together with CFO Mathias Kiep, opened trading on the Frankfurt Stock Exchange by ringing the stock exchange bell in the trading hall. The initial TUI share price was € 7,73. The Group expects to be admitted to the MDAX on 24 June. The listing on the London Stock Exchange will also end then.
Sebastian Ebel, CEO of TUI Group: "Today is a milestone for TUI, reflecting the transformation of the Group. As of today, Frankfurt is our stock exchange again. We are thus placing a clear focus on one stock exchange listing – instead of two previously two. This increases the visibility and attractiveness of our share for our global investors. As a brand, TUI is at home in the world, with a strong presence in Europe and in destinations in more than 100 countries around the world, as well as its headquarters and stock exchange listing in Germany. We want to expand our international presence, continue to grow profitably and support this growth with simpler structures. By doing so, we will create more value for the company, its employees, customers and shareholders."
From a tour operator based in Hanover and Berlin, TUI has successfully developed into a leading global integrated tourism group with five airlines, three cruise lines, internationally renowned hotel brands and around 400 hotels of its own, as well as a platform for experiences and activities. TUI is active worldwide. In the European source markets, TUI advises its customers in more than 1,200 travel agencies as well as via service centers and online sales channels. The integration of over-the-counter distribution with TUI's own travel agencies, franchise partners, independent travel agencies and online distribution guarantees customers a wide range of products and equally high quality advice and individual service. TUI will continue to stand for this in the future.
The future is geared towards profitable growth, with more customers, new products and new markets to be developed. Digitalisation offers many new opportunities for the tourism group. Structures are becoming simpler and leaner where there is no impact on the customer or where customers are relieved supported by technical innovation and digitalisation. Many countries where the TUI brand is already well known, are now exclusively destinations for holidaymakers. "We also want to develop them as local source markets for customers and use the awareness of the TUI brand for new growth," says Sebastian Ebel. In addition, dynamically packaged products and app sales are to drive the Group's growth.
Quality and service in all areas will be expanded and strengthened. This also includes the sustainable transformation of all business segments. TUI has set itself clear targets for reducing emissions for all businesses and has had these targets for 2030 reviewed and confirmed by the independent SBTi initiative.
Mathias Kiep, CFO of TUI Group: "The change of the dual listing structure and the return to the Prime Standard in Frankfurt was a carefully considered decision that was supported by our shareholders with an impressive majority (98.35 percent). With today's step, we are simplifying structures, consolidating liquidity in one trading venue and thus strengthening TUI and its global brand presence. We want to continue to grow successfully and TUI should remain an attractive long-term investment for current and new shareholders."
Since the merger with the former British TUI Travel Plc at the end of 2014, the TUI share has been listed in the premium segment in London, as well as on the regulated market of the Hanover Stock Exchange and on the OTC market in Frankfurt. The decision to list in London in 2014 was a key factor in the successful takeover and integration of the former TUI Travel Plc into TUI Group. However, in the course of the Group's transformation, share custody and liquidity of the TUI share on the stock exchanges have increasingly shifted towards Germany, prompting investors to initiate initial discussions on a change to the dual listing. As announced last year and approved by a large majority at the Group's 65th Annual General Meeting in February 2024, the previous dual listing structure will cease. The change of stock exchange location from London to Frankfurt has no impact on TUI's companies and activities in the UK market. It This market is and will remain a core market for the Group.