Financial policy : Question 6
When a company is listed on a stock exchange such as Frankfurt and it also wants to be listed on the London stock exchange, for example, does a new company have to be set up in the new country?

Either the company gets its shareholders to accept the principle of a capital increase without preferential subscription rights, and the company will issue new shares which will be offered to UK investors if it is seeking a London listing.

Or no new shares are issued, the company’s advisory bank will simply carry out an arbitrage by buying a block of shares listed in Frankfurt and the selling them on the first trading day of the London listing at the same price as in Frankfurt.

So a new company is never actually set up.
For more information, see chapter 41 of the Vernimmen.