The media conglomerate, Thomson Reuters Corp's shares rose as much as 7.3 percent to 1750 pence, the biggest gain since Dec. 19, after it divulged plans to quit the London stock exchange.

Earlier in a statement, Thomson Reuters Corp. said that it intended to exit the London Stock Exchange and Nasdaq while remain listed on the Toronto Stock Exchange and New York Stock Exchange. Thomson Reuters Corp. further said it might buy up to $500 million of its shares in one or more of its markets. The company also reaffirmed its outlook for full-year revenue growth.

Current complex listing position of the Thomson Reuters Corp. is a result of the takeover of Reuters Group by Thomson Financial in 2008.

Thomson Reuters' Chief Executive Officer Thomas Glocer said when they formed Thomson Reuters, dual-listed company structure was believed to be the best for Reuters' shareholders to stay invested in company's shares and participate in its growth. However, the shareholders of the company have changed by far and U.K. shareholders now only constitute 5 percent of the combined shareholder base.

According to analysts Thomson Reuters' decision to quit London stock exchange will bridge the gap between the share prices on the different exchanges. Moreover, losing the London listing will cut the company's costs also.

Reuters was founded by Paul Julius Reuter who started sending news between European cities by using carrier pigeons.

In 1851, he set up an office in two rooms in London's financial centre and used one of the first telegraph cables between England and France to transmit stock market prices between London and Paris.

Reuters Telegram Company was registered as a public limited company in 1865.

In 1984, it joined the London Stock Exchange and the Nasdaq.

However, ending the dual structure requires approval from shareholders.