MADRID, May 4 (Reuters) - Spain's Ferrovial
expects to list on Nasdaq around May 9 after concluding a
regulatory review for its registration, the construction firm
said late on Friday.
The builder of toll roads, airports and energy projects said
the company had filed an acceleration request before the U.S.
SEC to declare its registration statement effective on May 8.
Ferrovial's ordinary shares will be trading on Nasdaq under
the ticker symbol "FER", following a decision to move its
headquarters to the Netherlands from Spain as a way to
accelerate a U.S. listing.
The infrastructure builder would be the first firm listed on
the Spanish stock market index to trade on Nasdaq with ordinary
shares.
Currently Spanish-listed firms can only be traded in the
U.S. using American Depositary Receipts (ADR) or other indirect
means without access to U.S. stock indexes.
Ferrovial launched a dual listing in Amsterdam and Spain in
June and began the process for a U.S. listing that was
originally planned for the end of 2023. The Spanish government
first looked at ways of persuading Ferrovial to abandon its
plan.
Ferrovial, which said it has a market capitalisation of
around $26 billion, does 82% of its business overseas.
The U.S. market accounted for 71% of the company's total
investments in 2023.
"The United States is a market in which we have been
developing toll roads for more than 20 years. We are currently
operating assets in Texas, Virginia and North Carolina and
developing the New Terminal One at JFK airport in New York,"
Rafael del Pino, chairman of Ferrovial, said in a statement.