Ferguson plc (LON:FERG) has announced that further to the approval it received from shareholders on July 29, 2020, it is in the process of registering with the US Securities & Exchange Commission (SEC) under the Securities Exchange Act of 1934 to enable trading of its ordinary shares in the US. The Company anticipates that the Additional US Listing will become effective in early March 2021 and confirms that it has applied to list its ordinary shares on the New York Stock Exchange (the “NYSE”). Ferguson will retain its premium listing on the London Stock Exchange and inclusion in the FTSE 100 index and the Company’s ordinary shares will trade on both exchanges under the ticker symbol: FERG.
As a result of the Additional US Listing, Ferguson’s current American Depositary Receipt (ADR) program managed by J.P. Morgan Chase Bank, N.A. will be terminated. Existing Ferguson American Depositary Shares (ADSs) will be mandatorily cancelled and exchanged for Ferguson ordinary shares in accordance with the applicable ADR exchange ratio. Further information regarding this exchange process will be communicated separately to ADR holders by J.P. Morgan Chase.
A further announcement will be made once the Additional US Listing is effective.
