Newport News, Virginia-based Ferguson PLC has transferred its primary stock listing from the London Stock Exchange (LSE) to the New York Stock Exchange (NYSE), culminating the plumbing distribution giant’s recent rebranding from its former London-based Wolseley name.
Ferguson, which ranked No. 1 in MDM’s most recent Top Distributors List, is “excited to achieve this key milestone as our listing structure is now fully aligned with our operations and location of our team,” said Kevin Murphy, Ferguson CEO.
The listing change is another step in Ferguson’s recent transformation, which included selling off if its Wolseley UK plumbing and heating distribution business last year. This past March, shareholders passed a special resolution to transfer Ferguson’s listing category from a premium listing to a standard listing on the LSE, which took effect Thursday.
“With 100% of our operations today in North America, we now have the right listing structure for Ferguson as it continues to grow,” said Geoff Drabble, Ferguson Chairman. “On behalf of the Board, I’d like to thank our associates, customers and investors for their support, and we look forward to the significant opportunities ahead.”
Ferguson announced last September that its fiscal-year 2021 revenue climbed 14.3% from the year prior to $22.79 billion. On March 15, the company reported fiscal 2022 2Q net sales of $6.5 billion, 31.8% above the same quarter in fiscal 2021.