Ferguson Enterprises Finalizes Withdrawal of London Stock Exchange Secondary Listing Effective July 20, 2026

London Stock Exchange Secondary Listing Officially Cancelled

Ferguson Enterprises has formally completed the removal of its secondary listing on the London Stock Exchange, effective 08:00 a.m. U.K. time on 20 July 2026. This action concludes the process initiated by the company’s announcement on 16 June 2026. Previously listed under the Equity Shares category of the U.K. Financial Conduct Authority’s Official List, Ferguson’s common stock is no longer admitted for trading on the LSE’s main market.

This delisting represents a major adjustment in Ferguson’s capital markets approach. While shares will no longer trade on the LSE, the company’s primary listing on the New York Stock Exchange under the ticker symbol FERG remains fully active. Ferguson has provided detailed guidance for shareholders regarding the implications and administrative procedures related to the London delisting, accessible on the Managing Your Shares page within the Investors section of its corporate website.

Ferguson’s Market Leadership and Operational Scope

As North America’s largest value-added distributor of critical water and air solutions, Ferguson serves specialized professionals in residential and non-residential construction markets valued at approximately $340 billion. Headquartered in Newport News, Virginia, the company operates more than 1,700 locations staffed by roughly 35,000 associates across North America, establishing a significant presence in distributing vital building and infrastructure components.

Ferguson’s product and service offerings include plumbing, heating, ventilation and air conditioning (HVAC), appliances, lighting, pipe, valve and fitting (PVF) solutions, water and wastewater management systems, and complementary services tailored to complex construction projects. The company’s value-added distribution model integrates product supply with technical expertise and services, supporting customers in executing efficient, sustainable construction initiatives. In 2025, Ferguson achieved sales totaling $31.3 billion, underscoring strong market demand within North American construction and related sectors.

Strategic Reasons Behind London Listing Withdrawal

Although Ferguson has not explicitly detailed the strategic rationale in its announcement, the decision to end the London secondary listing follows a period of dual transatlantic listings. The move suggests management evaluated that the costs, regulatory compliance, and administrative burdens of maintaining the London listing outweighed its benefits. Secondary listings for U.S.-based companies typically require adherence to additional host-country financial regulations, reporting, and governance standards.

For investors and analysts, this delisting centralizes Ferguson’s share trading on the New York Stock Exchange, potentially enhancing liquidity concentration and simplifying capital market operations. The company’s ongoing primary NYSE listing ensures continued access for U.S. and international investors under the oversight of the U.S. Securities and Exchange Commission. This change does not impact Ferguson’s business operations, financial results, or strategic direction but streamlines its capital markets footprint.

Shareholder Support and Information Resources

Ferguson has prioritized transparent communication by publishing a frequently asked questions (FAQ) document addressing shareholder concerns about the London delisting. This resource is available in the Managing Your Shares section of the Investors tab on the company’s corporate website at corporate.ferguson.com. The FAQ clarifies administrative steps, timelines, and options for shareholders affected by the delisting, including those needing to consolidate or transfer holdings.

By providing this guidance, Ferguson demonstrates commitment to assisting investors through the transition, which, while not altering the company’s core business, changes the mechanics of share trading and settlement for some shareholders.

Ongoing Primary Listing on the New York Stock Exchange

Ferguson’s primary and sole listing now remains on the New York Stock Exchange, where its common stock trades under the ticker FERG. The NYSE is among the world’s most actively traded and regulated equity markets, governed by the U.S. Securities and Exchange Commission and FINRA. This primary listing maintains broad accessibility for U.S. and global investors via a highly liquid and transparent trading platform.

Consolidating listing activity on the NYSE may improve trading liquidity through concentrated order flow, tighter bid-ask spreads, and enhanced price discovery. Investors will execute Ferguson share transactions exclusively on the NYSE, simplifying equity trading logistics while preserving full regulatory oversight. Ferguson’s investor relations team continues to engage shareholders and the investment community through established NYSE channels.

Sector Dynamics in Water and Air Solutions Distribution

Ferguson’s role in value-added distribution for water and air solutions aligns with structural trends in North American construction and infrastructure markets. The $340 billion residential and commercial construction sectors served by Ferguson represent stable demand for essential building systems. Water and air solutions—including plumbing and HVAC—are indispensable components of virtually all construction projects, providing Ferguson with exposure to foundational economic activity.

The distribution industry has increasingly favored value-added models offering technical expertise, project support, and integrated solutions beyond mere product supply. Ferguson’s positioning reflects the need for specialized construction professionals to access not only products but also guidance, logistics, and technical knowledge. This approach supports higher margins and durable customer relationships, offering a competitive advantage for well-capitalized, geographically diverse distributors.

Financial Strength and Extensive Operational Network

With $31.3 billion in sales for calendar year 2025, Ferguson ranks as a leading participant in North America’s distribution sector. Its workforce of approximately 35,000 associates across more than 1,700 locations underpins substantial human capital and physical infrastructure investments. This network enables Ferguson to serve diverse geographic markets, maintain inventory to meet project demands, and provide technical and customer service support at scale.

The company’s decentralized operational model enhances resilience against localized economic disruptions and facilitates simultaneous service across multiple metropolitan and regional markets. These assets reflect Ferguson’s extensive customer relationships, supply chain capabilities, and operational expertise cultivated over years in the North American construction distribution industry.

Investor Relations and Corporate Disclosure

Ferguson has designated Pete Kennedy, Vice President of Investor Relations, and Christen Rusbarsky, Director of Investor Relations, as primary contacts for shareholder inquiries related to the London delisting and other corporate matters. Contact information is provided in the announcement. The company’s investor relations function ensures transparent communication and timely disclosure of material information to the investment community.

For media inquiries, Christine Dwyer, Vice President of Communications and Public Relations, serves as the primary contact. Ferguson’s corporate website at corporate.ferguson.com acts as the central repository for investor resources, including financial reports, governance documents, SEC filings, and shareholder communications such as the London delisting FAQ.

Investor Market Access and Liquidity Implications

The London Stock Exchange delisting reduces the number of trading venues for Ferguson shares, which may affect market accessibility and liquidity. Investors previously trading via London brokers or platforms may need to arrange access to the New York Stock Exchange. However, the NYSE’s status as the world’s largest equity market with extensive international connectivity ensures continued access for sophisticated and institutional investors.

Retail investors in the U.K. and Europe may face additional steps to trade Ferguson shares, including using brokers with U.S. market access or depositary receipt structures where available. Concentrating trading on a single major exchange typically enhances liquidity by increasing order flow density, benefiting investors through improved price discovery and reduced transaction costs. No immediate share price impact has been publicly reported.