Ocado Group PLC (LSE:OCDO) is the latest British company to come under pressure to move its share listing from London to New York.
According to weekend reports in the Sunday Telegraph, one of Ocado’s top shareholders, an undisclosed “leading fund manager”, asked Ocado’s board to properly explore the idea.
Ocado’s share price has collapsed nearly 90% since early 2021, when the grocery delivery and grocery technology licensor became a darling of the Covid era.
Ocado, which currently has six fulfilment centres in the US, could fetch a premium through a New York listing compared to London given its technology focus.
Another British technology company, the microchip designer Arm, snubbed London in favour of a US listing in 2023, while many smaller cap companies have also been lured by superior valuations across the Atlantic.
Ocado has yet to make a comment on the reports.