Ashtead Plans Shareholder Vote on US Primary Listing
British equipment rental giant Ashtead Group will request shareholder approval to relocate its primary listing to the United States and form a new US-based parent company.
An extraordinary general meeting will be held in June, where Ashtead will require the support of 75% of voting shareholders to move forward with the plan. The new listing is slated to commence in the first quarter of 2026, with Sunbelt Rentals Holdings serving as the new parent company.
As the second-largest US equipment rental provider, Ashtead announced plans in December 2022 to list on the New York Stock Exchange, following the trend of European companies relocating their listings to the US market for higher valuations.
"Since December, the Chair and the executive team have engaged with shareholders who have expressed their understanding and support for the proposed move," the company stated.
Ashtead will maintain a secondary listing on the London Stock Exchange.