Building supply firm CRH plc has successfully transitioned its primary listing to the New York Stock Exchange, six months after officially announcing its London delisting in March.
Chief executive Albert Manifold called it “an important milestone” for the future of the company, which until recently was a constituent of the FTSE 100 blue-chip index.
Manifold said the new listing will “enable us to fully participate in the significant growth opportunities that lie ahead for our business".
“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,” the company said in a press release.
North America represents approximately 75% of CRH’s underlying earnings and the US is expected to be a key driver of future growth due to continued economic expansion, growing population, and significant construction needs.
CRH was one of two major construction firms to delist from the London Stock Exchange this year.
Insulation giant Kingspan Group PLC (LSE:KGP) dropped its London listing in August in favour of a primary listing on the Euronext market in Dublin.