Freshfields advises Ferguson plc on its additional listing on the New York Stock Exchange
Freshfields Bruckhaus Deringer ('Freshfields') has advised Ferguson plc (Ferguson), a leading US distributor of plumbing and heating products, on the successful additional listing of Ferguson’s ordinary shares on the New York Stock Exchange (and the termination of Ferguson's American depositary receipt program in connection with such additional listing). Ferguson retained its premium listing on the London Stock Exchange and inclusion in the FTSE 100 index and its ordinary shares now trade on both stock exchanges.
The additional US listing follows on from Ferguson’s recent disposal of its UK business (Wolseley) to Clayton Dubilier & Rice (on which Freshfields also advised Ferguson), following which all of its revenues are now generated in North America.
The Freshfields team was led by partner Oliver Lazenby and senior associate Ziyad Nassif.