Building materials giant CRH has announced plans to fully delist from the London Stock Exchange (LSE), two and a half years after shifting its main listing to the New York Stock Exchange (NYSE). The Dublin-based company said the decision follows a review of its LSE listings, taking into account trading activity and the costs and regulatory obligations associated with retaining a London presence.
The group said it was “satisfied that it is in the best interests of CRH and its shareholders” to delist from the LSE. Its preference share listing on the London market will also be cancelled, subject to approval by investors at the company’s annual general meeting in May. CRH confirmed the delisting will take effect on Monday, April 20, with the last day of trading on the LSE scheduled for Friday, April 17.
CRH’s move marks another setback for the London market, which has seen a growing number of companies abandon UK listings in recent years. Major firms including Flutter Entertainment, owner of Paddy Power, mining group BHP, and construction rental company Ashtead have all shifted their primary listings abroad. British companies have also increasingly been acquired by foreign rivals or taken private, raising concerns over the capital market’s ability to retain large domestic firms.
The company, the world’s largest construction materials firm, moved its main listing from Dublin to New York in September 2023. At the time, CRH said the US listing “would bring increased commercial, operational and acquisition opportunities” and reflected the fact that around three-quarters of its earnings were generated in North America.
CRH’s decision highlights a wider trend of European companies prioritising access to US capital markets over traditional European exchanges. Analysts say the shift is driven by a combination of higher trading volumes, greater liquidity, and a regulatory environment seen as more conducive to corporate growth and international expansion.
Investors on the London market will now have one last chance to trade CRH shares before the April delisting. The company said it remains committed to keeping investors informed throughout the process, ensuring a smooth transition for holders of both ordinary and preference shares.
The announcement adds to ongoing debate about the UK market’s competitiveness as a global listing venue. While London remains a hub for financial services, the departure of major firms like CRH underscores the challenges facing the exchange as companies increasingly seek listings in larger, more active markets abroad.
CRH said it would continue to maintain a secondary listing on the NYSE, reinforcing its strategic focus on the North American market while winding down its London presence. The move reflects the company’s ongoing efforts to align its capital structure with its global operational footprint and growth ambitions.
