Ferrovial is ending its listing on the Euronext Amsterdam. According to a notice to the Comisión Nacional del Mercado de Valores (CNMV) the last trading session is scheduled for 10 September 2026, with the delisting taking effect on 11 September 2026. The group will remain listed on the Nasdaq in New York and on the Spanish stock exchanges, and will retain its registered office in the Netherlands. The company cites a simplification of its listing structure and greater efficiency in its market presence.
Background: Ferrovial moved its registered office to the Netherlands in 2023 to facilitate access to the US capital market, and subsequently established a triple listing on Euronext Amsterdam, Nasdaq and the Spanish stock exchanges. The management team, led by chairman Rafael del Pino and chief executive Ignacio Madridejos justified the move at the time by citing the group’s internationalisation and the aim of broadening its investor base and liquidity.
Trading flows: In its latest notice to the CNMV, the company points to a marked shift in liquidity towards the US. It says that most recently 59.21 per cent of average trading volume was on Nasdaq and 40.63 per cent on the Spanish stock exchanges; Amsterdam’s share was only small. These figures come from the company’s statement to the regulator.
Regulatory framework: As things stand, ending the Amsterdam listing will not entail any changes to the registered office, legal form or governance. Ferrovial will remain subject to Dutch company law and the country’s supervisory and corporate governance framework. The delisting will not shift responsibility for accounting or supervision; continued listings in New York and on the Spain ensure continuous trading in the shares.
Implications and outstanding issues: According to the company, the measure is intended to streamline a multiple listing by removing trading venues that it considers little used. The notice did not go into detail on technical arrangements around the final trading days in Amsterdam, such as settlement and order routing. Investors will therefore need to keep an eye on further deadlines and process information from the trading venues and intermediaries concerned. No further steps to adjust the shareholder structure or shift regulatory responsibilities were announced.
Editor: Daniel Mayer (Article created with AI assistance).