Ashtead weighs switch to US listing in latest blow to London market

Current FTSE 100 member

Ashtead, one of the London Stock Exchange’s largest companies, is reportedly considering switching its listing from London to New York.

The potential plans are still in their early stages, according to The Telegraph, but a review is being conducted due to board-level concerns about the pay disparity between the group and its publicly listed American counterparts. The FTSE 100 giant, which has a market cap of over £24bn, currently conducts the majority of its business on the other side of the Atlantic. A spokesperson for the firm told Investment Week: "Ashtead reviews its capital structure regularly, including its domicile, recognising the fact that 90% of its business is in the US." Superdry proposes delisting from...