February 4, 2020 / 7:27 AM / 16 days ago

Ferguson to seek U.S. listing as UK demerger approaches

Feb 4 (Reuters) - Plumbing parts distributor Ferguson Plc said on Tuesday it is considering a primary or additional listing of its shares in the United States, its biggest market, following the demerger of its UK Wolseley business this year.

In September, the company named a new chief executive officer and said it would separate the UK operations in a bid to focus more on its U.S. business after billionaire activist investor Nelson Peltz’s Trian fund took a 6% stake in Ferguson.

Separately, the company also announced a $500 million share repurchase. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Shounak Dasgupta)

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