CRH completes move of primary listing to the US

CRH completes move of primary listing to the US

CRH has completed the move of its primary listing to the New York Stock Exchange. The group will retain a standard listing on the London Stock Exchange.

It said it had made the transition because “We believe a US primary listing will bring increased commercial, operational and acquisition opportunities for our business, further accelerating our successful integrated solutions strategy and delivering even higher levels of profitability, returns and cash for our shareholders.” It added that the North America market represents around 75% of the group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) and that the US is expected to “be a key driver of future growth for CRH due to continued economic expansion, a growing population and significant construction needs.”

Albert Manifold, the chief executive officer of CRH, commented, “Today marks an important milestone in CRH’s development which will enable us to fully participate in the significant growth opportunities that lie ahead for our business”.