Ferrovial becomes the first Ibex35 company to list on Wall Street.

Ferrovial has just become the first Ibex35 company to enter the New York stock market. He The starting price per share was $38.5 (€35.74) and rose to €47.22. Half an hour after its Wall Street debut, shares fell to $38.20 (€35.48). Its president, Rafael del Pino, assured at a meeting at Nasdaq with Spanish media that we will have to wait and see how it develops because “one day does not matter.”

The company, which has been present in the United States for more than twenty years, announced its intentions already at the beginning of 2024 debut on Nasdaq Big Apple and was one of the reasons given to justify the transfer of headquarters from Spain to the Netherlands, because it favored his entry into the American Stock Exchange. For Del Pino, leaving Spain “was not traumatic, it was a financial decision that we had been thinking about for many years.” The change of headquarters “not only made it easier” to enter the American stock exchange, “it made it possible in a way that would have been impossible from Spain.”

Shortly before the traditional “ringing of the bell,” Del Pino, in a short speech, also assured that “this quote demonstrates the company’s commitment to the North American market and with North American investors. Listing on Nasdaq is a significant milestone for a company founded in 1952 in a small attic.” Del Pino congratulated his team, past and present, on this “milestone” and recalled that it was “a great day for Ferrovial.”

The shares will be listed under the symbol FER, the same one used on the stock exchanges of Amsterdam (where they were listed on June 16, 2023) and Spain, where they arrived in 1999.”This move comes just 25 years and 3 days after we began trading on the Madrid Stock Exchange. On this anniversary, we also celebrate the launch of trading on Nasdaq.”

Thanks to this move, the Spanish company based in Amsterdam seeks to attract international investors and thus achieve greater liquidity this allows it to develop new projects in the United States, “a market we know well. We have been building here for over 20 years and operate toll highways in Texas, Virginia and North Carolina, and we are currently developing the new Terminal 1.” at John F. Kennedy Airport in New York,” said Rafael del Pino. The North American market accounted for 71% of the company’s total investments in 2023 and now accounts for 80% of the company’s value, including Canada.

With a market capitalization of over $26 billion and infrastructure projects in more than 15 countries, Ferrovial shares are listed on the Spanish Stock Exchange at €35.7, almost the same as on the Amsterdam Stock Exchange. The group has four business areas focusing on highways, airports, construction and energy. The goal is to continue growth and increase investment in North America amid strong demand for infrastructure improvements.