Grafton to list on LSE

Irish building merchant Grafton Group is leaving the Irish Stock Exchange and will instead take up a listing on the London Stock Exchange.

Dublin-based Grafton Group already has a secondary listing in London, but now it intends to use it as its primary listing.

Grafton will maintain its operations in Ireland but hope to raise money via the London listing. Grafton owns UK building supply merchants such as Selco and Buildbase, making it one of the biggest suppliers in the country. Its Irish operation was the most profitable division until the housing crash in 2007, but today it accounts for just 25% of total profit.

Grafton will now now get the dual benefit of paying less in corporation tax by being based in Dublin, while its listing on the LSE enhances its investor profile.

The Group has a market capitalisation of £1.4 billion and hopes to be included in the FTSE Mid 250 index following November’s reshuffle.

Grafton Group plc (DFB) chart

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.