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Ferguson PLC's primary stock market listing moves to New York with effect Thursday, with the plumbing and heating products supplier exiting the FTSE 100 in London as a result.
Ferguson will remain listed on London's Main Market, however, but through a standard listing and not a premium listing.
Replacing Ferguson in the FTSE 100 is Harbour Energy PLC. The North Sea-focused oil and gas firm was formed in March 2021, following the merger of Premier Oil PLC and Chrysaor Holdings Ltd.
Taking up Harbour's place in the FTSE 250 is Petrofac Ltd, a services provider to the energy industry. Petrofac returns to the mid-cap index after being booted out in an index review in March 2021.
Shareholders at a Ferguson general meeting In March approved a plan to move the company's primary listing to New York Stock Exchange, keeping only a standard listing on the London Stock Exchange.
‘Ferguson's operations are 100% North American, and the board believes the US is the natural long-term primary listing location for the company,’ said Chair Geoff Drabble.
Ferguson sold UK business Wolseley to US private equity firm Clayton, Dubilier & Rice LLC in February last year.
Ferguson has had an additional US listing since March of last year.
Ferguson shares were 0.9% lower at 9,314.00 pence each in London on Thursday morning. Harbour Energy shares were 3.7% lower at 452.40p. Petrofac's stock was down 3.9% at 146.49p.
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