Equiment hire giant Ashtead to move stock listing to US

Published On Dec 10, 2024, 4:08 AM

Ashtead, a major equipment hire company, plans to move its primary stock market listing from the UK to the US, citing that most of its profits and operations are based in North America. This shift indicates a trend of major companies leaving the London Stock Exchange, which could raise concerns about the attractiveness of the UK as an investment destination. Moreover, Ashtead has warned that its annual profits will be lower than expected due to challenges in the US commercial construction market, which may hinder rental sales growth.