Ferguson Enterprises announced it will cancel its secondary listing on the London Stock Exchange, effective July 20 at 8:00 a.m. UK time. The company will remove its common stock from the Equity Shares category of the UK Financial Conduct Authority's Official List and end trading on the LSE's main market on July 17. Ferguson cited greater liquidity on the New York Stock Exchange, a predominantly North American shareholder base, and a desire to reduce costs and complexity as reasons for the move. No shareholder vote is required under the international commercial companies secondary listing category, though the company provided the required 20 business days' notice. Following the delisting, Ferguson will retain its primary NYSE listing under the ticker FERG, while holders of UK Depositary Interests must convert their holdings through Computershare to continue trading.
Ferguson PlcFerguson cancels LSE secondary listing to reduce costs and complexity, but retains primary NYSE listing; impact on shareholders is mixed.