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Ferguson PLC - Wokingham, Berkshire-based plumbing and heating products supplier - Shareholders at general meeting approve plan to move primary listing to New York Stock Exchange, keeping only a standard listing on the London Stock Exchange. Of the votes cast, 95.5% are in favour. Ferguson has had an additional US listing since March of last year. ‘Ferguson's operations are 100% North American, and the board believes the US is the natural long-term primary listing location for the company,’ says Chair Geoff Drabble.
Ferguson sold UK business Wolseley to US private equity firm Clayton, Dubilier & Rice LLC in February last year. As a result of giving up its premium listing in London, which will take effect on May 12, Ferguson will drop out of the FTSE 100 index, FTSE Russell had confirmed early last month.
Current stock price: 10,640.00 pence, down 3.9% on Thursday
12-month change: up 22%
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