ferrovial, One step away from jumping to Wall Street. infrastructure company Completed its debut on the North American stock marketwill be closed In the first quarter of 2024As confirmed by sources close to the company. Ferrovial is awaiting new approval from the Securities and Exchange Commission (SEC), the US stock market regulator equivalent to Spain’s National Securities Market Commission (CNMV).
The bell rang in the USA The main reason why Ferrovial moved its headquarters to the Netherlands. The company announced its intention to move its headquarters to Amsterdam at the presentation of its annual results last March, and this decision was subsequently approved by 93.3% of the General Assembly in May. Listing on the Dutch stock exchange offers more possibilities to then jump across the pond and do it in New York than trying to do it directly from Spain. The company is closed It will make its debut at Euronext Amsterdam on June 16 and has since continued to be dual-listed on the Spanish stock exchange and the Dutch market, available on Ibex-35.
Company currently led by Ignacio Madridejos and whose largest shareholder is the Del Pino family will not be included in any American indexsomething they desire in the future. One of Ferrovial’s goals is to provide liquidity to the company’s shares on the stock exchange, that is, to increase the number of shares bought and sold in the market in a day. Among others, liquidity is one of the necessary conditions for entering some of the main American indexes, such as the Russell 2000 or the S&P Composite 1500.
The reason for listing in the United States is to give new shareholders the right of entry
With this stock market movement, Ferrovial ensuring that investors are represented among their shareholders North Americans maintained its business portfolio in this way, focusing mainly on North America. Without going any further, a third of its revenue in the first half of 2023 came from the US, driven primarily by its highway business.
Listing on the US market is because the country’s main institutional funds, such as pension funds or university funds In accordance with their statutes and investment criteria, they are obliged to purchase common shares of companies listed in North America. Their launch as planned within the next three months will give them free rein to buy shares in the Spanish-based company.
On the other hand, in the US market There are not many infrastructure companiesNor is it an expert on franchises like Ferrovial, which are generating interest among investors. Also the Spanish company Participating in major projects in the countryIt encourages local funds to become interested in becoming shareholders, such as the remodeling of the new terminal 1 of JFK International Airport in New York.
In addition to his attendance at JFK, Ferrovial has 60 more projects in the US. Among these, the I-66 Highway with an estimated investment of 3.7 billion dollars, the LBJ Expressway with an investment of approximately 2.2 billion euros, and the North Tarrant Express Highway with an investment of 1.75 billion dollars stand out.