CRH proposes moving stock listing to New York

CRH proposes moving stock listing to New York
06 March 2023

CRH is considering moving its main stock market listing from London to New York. According to the company, around 75 per cent of its income comes from the North American market. In 2022 its materials business reported 15 per cent YoY growth in the Americas, with the US Infrastructure Investment and Jobs Act, Inflation Reduction Act and Chips Act all helping to fuel a boom in construction activity.

"We would have higher levels of growth if we were to list our business in America. It's clear that there will be significantly stronger support for construction in North America than there is in Europe. That's because of the level and extent of federal funding. That alone is going to super-charge construction growth in infrastructure over the next decade,” said Albert Manifold, CEO of CRH, reports the Irish Independent. 

This marks the latest in a string of companies to ditch the London Stock Exchange in favour of New York, with plumbing and heating equipment supplier Ferguson moving its listing in May 2022. 

Published under Cement News