ashtead plans us stock listing to attract investors amid pay criticism

Ashtead Group intends to transfer its stock listing from the UK to the US in order to attract American investors. The company expects a favorable market for its services as interest rates decrease, despite challenges in the US construction sector caused by higher borrowing costs.

Investment analyst Dan Coatsworth from AJ Bell suggested that the relocation could provide a justification for CEO Brendan Horgan's controversial $14 million pay package, which has been criticized for being excessive. Coatsworth also mentioned that such compensation might be more acceptable in the US market. Furthermore, Coatsworth proposed that Ashtead could consider selling its remaining UK operations, which are much smaller compared to its US business.

However, a spokesperson for Ashtead confirmed that the relocation would not impact the company's investment plans in the UK.

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