BlackRock, the world’s largest investment fund, is leaving the capital of Ferrovial

Black rock decided to leave the capital Railway after getting rid of his 3.176% stake almost a week after the society presided Raphael del Pino debuted on the Amsterdam Stock Exchange.

Specifically, the New York investment giant has so far held a stake of more than 3%, equivalent to a block of some 24 million shares that, according to Ferrovial’s listing price on Wednesday, are valued at more than 680 million euros.

On July 19, 2013, BlacRock announced for the first time a stake of more than 3% in Ferrovial, according to the records of the National Securities Market Commission (CNMV). At that time, the stock was trading at the threshold of 13 euros. It is currently close to 30 euros. The revaluation is 126%.

The move comes days after British fund The Children’s Investment Fund (TCI) again increased its stake in the construction company, surpassing 9 percent of the capital for the first time since it broke into its ownership in May 2019.

According to the prospectus for listing on the stock exchange in Amsterdam, the fund has been acquiring shares in the company in recent months, which puts it in the second largest shareholder position in the company, right after the president. Raphael del Pinoit owns 20.4% of the capital.

The fund is managed by its founderChristopher HohnBritish billionaire ranked 283rd on Forbes’ list of the richest people on the planet, with a net worth of close to $7,000 million (€6,400 million).

In this way, Hohn has already passed the president’s sister, Maria del Pino, whose share in Ferrovial is limited to 8.2%. The third largest shareholder is his second brother, Leopoldo del Pinowith 4.1%, who voted against the transfer of the headquarters to the Netherlands at the last shareholders’ meeting.

The list of significant shareholders has been finalized Black rocknow outside the capital, and Lazard Asset Managementanother US fund that has a 3% stake.

The debut on the Amsterdam Stock Exchange for the company ended a turbulent period of more than three months since it announced its intention to move its headquarters to the Netherlands on February 28, which caused great controversy at the political level. one of the largest Spanish companies with a large international projection.

In fact, the latter is what led the company to make this move, claiming that 82% of its revenue is generated outside of Spain, that 90% of its stock market value comes from abroad and that 93% of the company’s Institutional Investors are international.

Its main goal is to be listed on the stock exchange in the United States, the country that in 2022 concentrated 32.3% of the 7.551 million it collected worldwide and in which it expects to be listed before the end of the year. There are about 4,180 employees in that country, compared to 5,413 in Spain.