The National Securities Market Commission (CNMV) agrees. ferrovial. According to a document from the stock market regulator made public yesterday, although it dates back almost a year ago, It would be easier for the Spanish infrastructure company to go public in the US as a Dutch companyCompared to Spain, where they were aware that it could be “short and simple” as it had never been done before, “as there are precedents of companies that have gone through the direct listing process”.
The controversy arose at the end of last February. ferrovial announced that its headquarters was changed to the Netherlands, with the aim of breaking out on Wall Street. The move, which the government understood to be for tax reasons, was always denied by the company. Finally, the company, headed by Rafael del Pino, has reached milestones and is expected to list on the New York Stock Exchange in the first quarter.
Now, at Transparency’s request, the CNMV has made public the document, which partly agrees with Ferrovial that it is easier to list as a Spanish company than as a Dutch company. Sources close to the government state the following:There is no inconsistency between the results of the CNMV report and what is stated in the report. Ministry of Economy when this matter came to light” and ultimately said Ferrovial never consulted the regulator to find out the procedure for ringing the bell in New York.
CNMV defends itself
In the conclusion section of the document, the editor states: Would have no problem exploring listing in North America from Spain “as long as investor protection is maintained” and “No obstacles have been detected so far. “Legislative, regulatory, supervisory or operational, Spanish securities can be registered directly with the DTC at the request of their issuers, which is a necessary requirement for listing on the US markets.”