Ferguson is on a path to shift its primary share listing to the United States, but that doesn’t mean it’s the end of the matter for British investors (Miles Costello writes). The supplier of plumbing and heating equipment has won approval to have a second listing across the Atlantic, which the group believes is its natural home, given its 100 per cent exposure to North America.
There is the obvious risk here that, once the listing gets up and running, the majority of trading liquidity moves stateside, making it potentially harder to buy and sell the UK shares and putting some pressure on the price. That would be a shame, because this company has been one of the big success stories of the London
