Ashtead Group PLC (LSE:AHT) said it will be listed in the US as Sunbelt Rentals, which will be the new parent company, with a secondary listing in London, if investors vote for it at a meeting in June.
This follows the decision of the equipment rental group's board that a US primary listing would be in the best interests of the company and investors, with a secondary listing retained in London.
"Since December, the chair and the executive team have met with a wide variety of shareholders who have understood the rationale and been supportive of the proposed move," the FTSE 100 company said in a mid-morning statement.
Shareholders will vote on a proposed UK scheme of arrangement at an extraordinary general meeting, and if the required 75% majority is obtained the move is expected to take effect in the first quarter of 2026.
In a separate statement, Ashtead said finance chief Michael Pratt will step down as a director at the end of this month, while remaining on hand until he retires in September.
Replacement Alex Pease, who joined in October, will become CFO from 1 March.