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Ireland's Grafton to switch listing to London exchange

Reuters - UK Focus

DUBLIN, Sept 16 (Reuters) - Home improvement and building supplies group Grafton said on Monday it will switch its primary listing to the London Stock Exchange (LSE: LSE.L - news) next month.

Grafton units will cease trading on the Irish stock exchange on Oct (KOSDAQ: 039200.KQ - news) . 15 and will trade solely on the London bourse, reporting its results in sterling. Its decision was prompted by a fall in the number of shares held in Ireland (Other OTC: IRLD - news) , it said in a statement.

The firm, the third-largest building merchant in Britain, in August launched a review to evaluate a possible move to London.

The Irish index has seen trading nosedive and top names, such as Greencore and CRH (NYSE: CRH - news) , move their primary listings on the back of Ireland's banking crash.