The Spanish government wants to facilitate the listing of Ferrovial in the United States and thus avoid the transfer of its headquarters
MADRIDDespite the fact that everything indicates that the transfer of the headquarters of Ferrovial de España to the Netherlands will be a fact, the Spanish government is working with the National Securities Market Commission (CNMV) and Spanish Stock Exchanges and Markets (BME) to identify which elements, if they exist, they make it difficult for Spanish companies to trade in the United States and in Spain at the same time.
Subscribe to the Economia newsletterInformation that affects your pocket
Sign up for it
The message from the Spanish government, following Ferrovial’s announcement of its intention to move its headquarters to the Netherlands, but also from the CNMV, is that no reasons have been identified that would complicate listing in the United States and at the same time from Spain Now, from the collaboration between the regulator and the stock market, measures should come out to help companies that want to double listing both in Spain and on the other side of the Atlantic, according to progress The confidential and sources from the Ministry of Economy explain to ARA.
“We have been working with the CNMV and BME to identify possible differentiating factors in the Spanish market and, if necessary, take measures to facilitate double listing for Spanish companies that wish to do so,” explain sources from the Economy portfolio. These sources maintain that they are also working with the company “to encourage and promote that the best quotation and financing conditions are available.”
At the time, the company stated that its intention was to request dual listing, therefore remaining on the Spanish stock market but also on the Dutch one, and to move its headquarters to the Netherlands with the aim of cross over to the United States and end up trading on the stock exchange there. Ferrovial defended that the market in the United States and Canada is one of the largest in the world and the one with the most potential for growth in the infrastructure sector, but that without making the leap to the Netherlands it was unfeasible to do so.
Meeting on April 13
In any case, despite these moves by the Spanish government, the portfolio led by Nadia Calviño (PSOE) insists that “there is no reason to justify the decision [de traslladar la seu fora d’Espanya]”. “We continue to work so that Spanish companies have the best financing conditions and access to international markets”, add sources from the Ministry of Economy.
In any case, if the CNMV and BME end up modifying the regulatory framework and taking measures to facilitate this dual listing in Spain and the United States, Ferrovial could achieve its goal of dual listing and do so, a priori, without moving its registered office in the Netherlands. The company plans to approve the decision this April 13 at a shareholders meeting which, as explained The confidentialwill be marked by the vote against the transfer of one of the brothers of the Del Pino family: Leopoldo del Pino, the fourth individual shareholder of the company.
*The article has been translated based on the content of Ara.cat – Portada by www.ara.cat. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!