The building materials giant is moving its main listing to the New York Stock Exchange – and with that comes a different type of scrutiny
Over its decades trading on the Irish stock exchange, CRH has grown into the biggest – and by far the most valuable – public company this country has ever produced.The building materials business is moving its main listing to the New York Stock Exchange from Monday, demoting London to a secondary listing and bidding farewell to Ireland’s equities market after an 87-year association.
There’s also the small matter of the $1.2 trillion US infrastructure programme – a lucrative proposition even for CRH, already the biggest player in America’s building materials market and a firm described by one analyst as a “cash-generating machine”. Anyone paying attention knows well why CRH has moved to the US – as well as the existential problems its decision has created for Euronext Dublin, the official title of Ireland’s stock exchange.
Ask the experts, and you get a pretty clear answer: CRH is on to a winner in the US – it just might take American investors a bit of time to figure that out. “The perception is that this is largely a midwest-focused company,” Thompson said. “But CRH’s top two states in the US also happen to be the top two fastest growing states from a population standpoint – Texas and Florida. That is absolutely not understood by the majority of US investors.
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