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Freshfields advises Indivior PLC on its additional listing on NASDAQ

A cross-border UK and US team from Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Indivior PLC (“Indivior”) on its additional listing on the NASDAQ Global Select Market, which launched on 12 June 2023. Following the additional listing, Indivior will retain its premium listing on the London Stock Exchange and inclusion in the FTSE 250 index, and its ordinary shares will trade on both exchanges under the ticker symbol "INDV."

Indivior is a global pharmaceutical company working to help change patients’ lives by pioneering life-transforming treatment for substance use disorders and other serious mental illness. It is expected that the additional listing will facilitate increased share ownership by biopharma investors in the United States, Indivior’s largest market.

Indivior is the latest UK-listed issuer seeking access to the US capital markets via a full share listing (as distinct from an ADR), which has become a discernible trend in recent times. Freshfields has an unrivalled track record of implementing these complex cross-border listings, with the same team having advised Ferguson plc on its additional NYSE listing in 2021/22 and currently advising Flutter Entertainment plc on its proposed additional US listing.

The Freshfields London team was led by partners Oliver Lazenby and Ziyad Nassif and associates Rob Foley and Marton Mohacsi. The Freshfields US team was led by partner Michael Levitt and counsel Tracy Zhang. Partners Alice Greenwell and Paul Davison advised on employment and tax matters, respectively.