Ashtead to Relocate Primary Stock Listing to New York

The UK-based equipment rental giant cites its US-centric operations and growth opportunities as key reasons for the move.

Ashtead Group, a £27 billion equipment rental company, plans to shift its primary stock market listing from London to New York within the next 12 to 18 months, pending shareholder approval.
The company, which operates primarily under the Sunbelt Rentals brand, derives 98% of its profits from North America and has its operational headquarters and most employees based in the US.
Ashtead will retain a secondary listing in the UK as an international company but views the US as its natural long-term listing venue due to deeper capital markets and investor access.
The move underscores a growing trend of major UK-listed firms, including Flutter and CRH, relocating to the US, raising concerns about London's competitiveness as a global financial hub.
Ashtead also announced that its annual profits are expected to fall below forecasts due to lower US commercial construction activity and increased costs, sending its shares down sharply.