Friday Briefing: And the exodus continues?

Friday Briefing

This week, British industrial equipment rental company Ashtead Group became the latest in a long list of public companies to announce its departure from the London Stock Exchange for greener American pastures, after rumours of its consideration of a move had been circulating since the beginning of the summer.

The FTSE 100 company put an end to speculation by confirming its plans to switch its primary UK listing for a New York one in the next 12 to 18 months, subject to shareholder approval. In a stock exchange notice on Tuesday (10 December), Ashtead noted that as it has become "substantially a US business", with 98% of its operating profit coming from North America, and with its executive management and operational headquarters based in the US, a move across the pond was in "the best interests of the business". Just Eat Takeaway to delist from London Stock Exchange However, a UK listin...