Glencore is considering moving its primary share listing away from London, in what would be a fresh blow to the UK’s blue-chip stock exchange following a series of departures.
Ashtead Group, a £27bn industrial equipment rental company, announced its plans to shift its primary listing to New York in December, saying the US was its natural home; about 98% of its profits are made across the Atlantic.
It joined companies such as Flutter, the £42bn owner of Paddy Power, the travel company Tui, and the food delivery company Just Eat, which all announced plans to switch their primary listings from London to rival hubs.
Last year, 88 companies delisted from the London Stock Exchange or moved their primary listing from its main market.
Loss of primary listing to New York or elsewhere – to get ‘optimal valuation’ – would be fresh blow to UK market.
