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(Alliance News) - FTSE Russell on Wednesday said Howden Joinery Group PLC would join the FTSE 100 Index following the expected transfer of CRH shares from a Premium to a Standard Listing on the London Stock Exchange.
Howden Joinery is a London-based kitchen and joinery supplier and CRH is a Dublin-based buildings material firm.
In June, CRH shareholders approved the company's plan to move to a US primary listing, which it had first announced in March. It will remain headquartered in Dublin.
"We believe a US primary listing will bring increased commercial, operational and acquisition opportunities for our business, further accelerating our successful integrated solutions strategy and delivering even higher levels of profitability, returns and cash for our shareholders," CRH said in August.
FTSE Russell said the changes would take effect on September 25 with Howden's place in the FTSE 250 taken by Hunting PLC, the London-based equipment manufacturer for the energy industry.
Shares in CRH rose 2.2% to 4,393 pence in London on Tuesday, while shares on Howden Joinery rose 3.9% to 751.80p and Hunting fell 0.2% to 303.78p.
By Jeremy Cutler, Alliance News reporter
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