Grafton Group admitted to FTSE 250 series
GRAFTON Group, the building materials supplier which owns Woodies and Atlantic Homecare, has been admitted to the influential FTSE 250 series.
The decision was announced by FTSE last night after markets closed.
It will officially join the index on December 20, alongside other new entrants including retailer Carphone Warehouse, real estate group Foxtons and retailer JD Sports Fashion.
This is an important development for Grafton, whose decision to leave the Irish Stock Exchange earlier this year in favour of a London listing was taken with the aim of making it into the FTSE 250.
The index, which consists of the 101st to 350th largest companies by market capitalisation on the London Stock Exchange, attracts investors from around the world.
Many of the institutional investors that Grafton wants to attract are limited to investing in companies listed on the FTSE.