Ferrovial debuts on the Nasdaq with a 16% gain, and a few minutes later its price corrects with a 4% decline.
Historic day in Ferrovial. The infrastructure group made its debut this Thursday at the Nasdaq headquarters in New York after several minutes when trading was suspended due to volatility. The shares rose nearly 16% after the resumption before falling 4% and correcting further to the price at which they are listed in Spain. Its president, Rafael del Pino, put the finishing touches early in the session on a process that has been going on for more than a year since the company announced its intention to list in the US in February 2023 to attract more American companies. Institutional investors. That same Wednesday, the US Securities and Exchange Commission (SEC) gave the prospectus the green light to begin its journey across America.
Ferrovial appeared in Times Square minutes before the start of the day. Lots of images of the company, its employees in offices and operators in different projects, as well as videos of which The Spanish company is beginning to gain greater prominence in the United States. Inside, Rafael del Pino traditionally rang the bell with which Ferrovial begins its special American dream in the stock market.
Their titles meant price above 47 dollarswith an increase of 15.9%, for then adjust to $39 with a drop of 4%, according to Bloomberg. On the Spanish stock market, meanwhile, they traded at 35.7 euros ($38.6 at the exchange rate), adding 0.11%. Ahead of its Wall Street debut, Ferrovial shares had risen 8% on the Spanish stock market this year, less than 5% from its all-time high. It was in March that the securities reached the highest level in their history – above 37 euros and with a capitalization exceeding 27.6 billion euros.
Actions They are now represented in three different countries.: USA, Spain and the Netherlands. It was to this latter country that it moved its headquarters and began to play the role of a link between Europe and the United States; something that caused great controversy, because although Ferrovial argued that this was the only way to reach Wall Street, the governor of the Spanish Stock Exchange (BME) insisted that it was not necessary, that although this bridge had not yet been built, it was a question time.
Therefore, from now on, his negotiations will have to be divided into three, although everything indicates that everything will take place between Madrid and New York, where investors are expected to focus their attention. The question is how much of this volume will come from Wall Street and how much its liquidity can improve. For now, 99.6% of the volume is carried out in Madrid, and the remaining 0.4% in Amsterdam..
Among the group’s aspirations in the United States is become part of indices such as the Russell 2000 or even the Nasdaq 100.. In addition to the Ibex 35 and the General Index of the Madrid Stock Exchange (IGBM), its shares are also included in other general indices such as Morgan Stanley Capital International (MSCI), S&P 350, Bloomberg European 500, DJ Euro Stoxx Price Index. or DJ Stoxx 600. In addition to other industry or social responsibility indices such as Dow Jones Sustainability or FTSE4Good.
“Our listing of common stock on Nasdaq This is a first for Ibex 35.“- stressed a few days ago, Ferrovial President Rafael del Pino, recalling that this is a market in which the company has been operating for more than 20 years.
Seeking more American investors makes sense given that the company itself plans to further concentrate its business in North America. 92% of investments made for the period 2023-2027 are related to this geography., with key growth projects including the new Terminal 1 at JFK Airport in New York, I-66 in Virginia and the North Tarrant Express 35W 3C in Texas. The company has already It consolidates 80% of the value of its global assets in North America. When the company announced its intention to list on Wall Street, only 13% of the group’s shares were in the hands of American shareholders.
Ferrovial has already chosen Nasdaq’s headquarters in New York on October 1 to celebrate Capital Markets Day, during which it presented its forecasts for the period 2024-2026. That day, he had already met with international investment funds and analysts to talk in detail about the group’s activities and thus try to attract new American investors.