By Anthony O. Goriainoff

 

Ferguson PLC is being replaced by U.K. oil-and-gas company Harbour Energy in the FTSE 100 index following the company's decision to move its main listing to the U.S., FTSE Russell said Monday.

The U.K.-based plumbing- and heating-supply company, which has been a member of the top flight since June 2009, will be deleted from the FTSE 100 index effective May 12.

In March, Ferguson shareholders voted in favor of shifting the company's primary listing to the New York Stock Exchange from London. The move, set to take place on May 12, follows a years-long effort by the company to shed businesses outside of North America. Following its sale last year of Wolseley, its U.K.-based business and former namesake, the company is generating all of its revenue in the U.S. and Canada.

FTSE Russell also said that Petrofac Ltd. will be added to the FTSE 250 index and deleted from the FTSE small cap index, also on May 12.

The FTSE 100 is a share index of the 100 most highly capitalized companies listed on the London Stock Exchange.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

May 09, 2022 13:27 ET (17:27 GMT)

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