Ferrovial’s process of changing headquarters to the Netherlands and its plan to be listed both in this country and in the United States and Spain has just passed another important milestone. The operator of the Dutch stock market, Euronext, has approved the application of the Spanish company to be listed in Amsterdam, which completely clears the operation.
Last Friday, the Euronext Listing Board gave the go-ahead to the request for admission to trading of Ferrovial’s shares, which will begin trading at 9:00 a.m. this Friday, June 12, the Spanish company has just announced to the CNMV .
With this move, the second of the two conditions that could have derailed Ferrovial’s move to the Netherlands is met. The first was for shareholders to exercise what is known as the separation right for an amount greater than 500 million euros, which has not happened. The second is the certainty that the shares will be able to be listed in Amsterdam, which is already a fact.
This same Friday the reverse merger by absorption of the Spanish parent company by the Dutch subsidiary, known as Fise, will also become effective. The new shares will trade with the symbol FER to identify Ferrovial, which will continue to form part of the Ibex.
The forecast is that this Thursday the market supervisor in the Netherlands, the AFM, will give the go-ahead to the prospectus for the admission to trading of Ferrovial shares and transmit it to the European authority, the ESMA. This would be the way to obtain the passport that allows joint listing in the Netherlands and Spain.
At that time, the current Ferrovial shares will be canceled and they will be exchanged for the new ones. The intention of the group chaired by Rafael del Pino is to later request the administration to be negotiated in New York, which should take place before the end of the year, according to its planned schedule.
