Ashtead to shift primary listing stateside, dealing fresh blow to London's market allure

Ashtead's decision to shift its primary listing to the United States reflects the growing trend of British companies favoring US markets, signaling concerns over London's attractiveness.

The company articulated that the US is the 'natural long-term listing venue' due to its profitability and aligned leadership, highlighting a crucial shift in corporate strategies.

Consultations with shareholders will precede the move, expected to be complete within 12 to 18 months, emphasizing the impact of investor concerns on the decision.

Speculation suggests Ashtead's re-listing could also serve to justify larger executive pay packages, hinting at underlying governance challenges within the UK market.

Read at Business Matters