Ferrovial makes a successful debut with a 3% rise on the Amsterdam Stock Exchange

Ferrovial began its journey on the Amsterdam Stock Exchange with a big stock market debut, recording a 3.6% revaluation to close to €30 per share, its all-time high. In the case of its price on the Madrid floor, where it continues to operate at the same time, it increased by 2.1% to 2.5 euros.

In addition, the trading volume was also different in each market: in the Netherlands it was around 3.3 million shares for a total of 98 million euros, and in Spain 271,000 shares for 8 million euros.

From this Friday, the company’s titles work in parallel on the Madrid and Amsterdam markets. Although the price is similar in both markets, there may be a slight shift. Since the Netherlands and Spain are the same capital market, the European one, there will be maximum coordination between both prices. Otherwise, there would be a margin of difference that investors could exploit buy shares of the same company on the market where they are the cheapest and sell them where they are the most expensive, known arbitrage.

On the other hand, one of the first announcements made by the company on the Dutch stock exchange was the purchase of bonds worth 500 million euros, addressed to all owners of that debt, with the aim of canceling it. The company also announced that the British fund The Children’s Investment Fund (TCI) has again increased its stake to 9% of the capital, making it the second largest shareholder in the company, behind its chairman. , Rafael del Pino.

The concessions group acknowledged in the admission brochure that this change could involve potential business, regulatory and reputational risks. One of them is that the Ministry of Finance could consider the operation of his transfer outside the exemptions provided by Spanish law from which he would no longer benefit.

The CEO of Ferrovial, Ignacio Madridejos Fernández, for his part, promised that the company “will never leave Spain” and assured that the group did not negotiate with the Dutch government before establishing its headquarters in Amsterdam because it has no intention “to pay less tax than usual. In an interview for a Dutch newspaper F D.,he assured that the merger is “a logical step for a company that continues to internationalize” and believes that “it is certainly good for Spain and for the Spaniards” who work in the company.

“I hope that if it becomes more obvious to everyone, we can have a good relationship with the Spanish government again,” he stressed. In addition, he promised that Ferrovial would not become a letterbox company in the Netherlands, but would have a “serious representative office” and “employ people” in Amsterdam.

«We will never leave Spain. And we don’t just come to the Netherlands with our headquarters. We really want to be active in the Netherlands in the field of infrastructure and contribute to society,” he said.

According to F D., the first contract that Ferrovial wants to win in the Netherlands is the construction of a new nuclear reactor for medical isotopes in Petten, in the northwest of the country. The auction is still in progress.