Major infrastructure and energy companies, like Ibex, are contemplating listing in the US after Ferrovial sets a precedent

Eleven months after its debut on the Amsterdam Stock Exchange, Ferrovial is set to begin trading in the United States. Its shares will start trading on the Nasdaq, the chosen index for the leap across the Atlantic. This move is part of Ferrovial’s plan to increase international visibility and establish a presence in a market that accounts for 34% of its sales. Additionally, the company aims to be included in indices like the Nasdaq 100 to attract international investors. Other Spanish companies, especially in infrastructure and energy sectors, are also considering listing on Wall Street.

Some companies are evaluating options such as dual listing in both the Spanish and US markets or listing their American businesses separately in New York. Listing in the US generally leads to higher valuations, which can benefit companies in the long run. Companies like ACS, FCC, and Sacyr, which have significant business operations in the US, are exploring opportunities to list in the American market. For these companies, listing in the US can provide access to higher valuations and a larger pool of investors.

In the energy sector, companies like Iberdrola and Acciona Energía have established a presence in the US market, where there is a growing demand for clean energy solutions. Infrastructure and construction companies like ACS, FCC, and Sacyr are also actively participating in projects in the US, which makes listing on Wall Street a logical step for them. Companies like Acerinox and Fluidra, with a large portion of their sales in North America, see listing in the US as a way to access higher multiples and attract more investors.

Some Spanish companies are already listed on Wall Street through ADRs, which give investors access to the same rights as direct shareholders. However, listing directly on the Nasdaq or other US exchanges can provide companies with better visibility and higher valuations. As Spanish companies continue to expand globally, listing in the US market remains an attractive option for many.