TECH - Exodus From London To New York: Why More Companies Are Seeking US Stock Listings | Benzinga
The U.K. stock market is leaking. Drugmaker Indivior Plc (NASDAQ:INDV), on Thursday, became the latest London Stock Exchange (LSE)-listed company to announce it was seeking a primary listing in New York.
For some companies, it makes good sense commercially. Building materials supplier Ferguson Plc (NYSE:FERG), which is based in Virginia, switched its primary listing from the LSE to the New York Stock Exchange (NYSE) in May 2022. It is based in the U.S. and its biggest market is in the U.S. — an NYSE listing, therefore, makes perfect sense.
For Ireland’s CRH plc (NYSE:CRH), another building materials supplier, the reasoning behind its primary listing moving from LSE to NYSE in June last year was similar.
“North America represents approximately 75% of Group EBITDA and the U.S. is expected to be a key driver of future growth for CRH due to continued economic expansion,” said CEO Albert Manifold.
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