12.02.2025

Ashtead to push on with US Listing

Ashtead, the parent company of Sunbelt Rentals in the US, UK and Canada, has confirmed that it will move ahead with its plans to transfer its primary listing from London to a US stock exchange.

Ashtead will start by setting up a new US company - Sunbelt Rentals Holdings, Inc - which, if all goes to plan, will become the ultimate parent company of the group, and the entity in which Ashtead shareholders will hold shares. It will retain a secondary listing on the London Stock Exchange.

In order to go ahead with the plan, formal approval is required from a majority of Ashtead shareholders via an EGM - Extraordinary General Meeting, where it will need to gain positive votes from 75 percent of those voting in person or via proxy as measured by the value of shares voted, for the motion to be approved. It has already sounded out a number of its major institutional investors and, one assumes, received a positive response.

Details of the proposals will be published in mid-May via a circular, with the EGM taking place in June. If the vote is positive, the changeover will take place during the first quarter of 2026.