TUI AG Returns Strong to Frankfurt Stock Exchange After 10 Years

Published on April 8, 2024

After nearly a decade, TUI AG‘s shares have made a comeback to the Prime Standard of the Frankfurt Stock Exchange today. Sebastian Ebel, the CEO of TUI Group, along with CFO Mathias Kiep, kicked off trading on the Frankfurt Stock Exchange by ringing the exchange bell in the trading hall. The initial price for TUI shares stood at €7.73. The Group anticipates being included in the MDAX by June 24th, marking the conclusion of its listing on the London Stock Exchange.

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.”

Starting as a tour operator rooted in Hanover and Berlin, TUI has evolved into a prominent global tourism conglomerate, boasting five airlines, three cruise lines, renowned hotel brands, approximately 400 owned hotels, and a robust platform for experiences and activities. Operating on a global scale, TUI provides guidance to its customers across European source markets through a network of over 1,200 travel agencies, service centers, and online platforms. The integration of various distribution channels ensures customers access to a wide array of products alongside top-notch advice and personalized service.

Looking ahead, TUI’s focus lies on profitable growth, with plans to expand its customer base, introduce new products, and tap into emerging markets. The digital landscape presents abundant opportunities for the group, streamlining processes without compromising customer experience through innovative technology and digital solutions. Leveraging its established brand recognition in numerous countries, TUI aims to transform them into not just popular holiday destinations but also significant source markets for future growth.

Emphasizing quality and service excellence across its operations, TUI is committed to sustainable practices, setting clear emission reduction targets across all segments and receiving validation from the independent SBTi initiative for its 2030 goals.

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 merging with the former British TUI Travel Plc in late 2014, TUI’s stock has been traded in London’s premium segment, as well as on the regulated market of the Hanover Stock Exchange and Frankfurt’s OTC market. The decision to list in London back in 2014 was crucial for successfully acquiring and integrating the former TUI Travel Plc into TUI Group. However, as the Group has evolved, the custody and liquidity of TUI shares on stock exchanges have increasingly leaned towards Germany, prompting investors to discuss transitioning from a dual listing.

Last year, it was announced and subsequently approved by a large majority at the Group’s 65th Annual General Meeting in February 2024 that the dual listing structure would be discontinued. This change, relocating the stock exchange listing from London to Frankfurt, does not impact TUI’s operations or presence in the UK market, which remains a core market for the Group.