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CRH PLC on Thursday said that shareholders have ‘overwhelmingly’ approved its transition to a US primary listing. The Dublin-based building materials company held an extraordinary general meeting early Thursday, in connection to its transfer to the New York Stock Exchange from its primary listing on the London Stock Exchange. The company first announced its plans to move its primary stock listing to the US from London in March. CRH said it will remain headquartered in Ireland. However, a US primary listing will remove CRH from the FTSE 100 index. It expects the changes to take effect on or around September 25. The company added that North America represents about 75% of its earnings before, interest, tax, depreciation and amortisation. ‘The US is expected to be a key driver of future growth for CRH due to continued economic expansion, a growing population and significant construction needs,’ it added. Chief Executive Albert Manifold said: ‘We are pleased to see such strong shareholder support for the listing transition as it marks an important milestone in our development and will enable CRH to fully participate in the significant growth opportunities that lie ahead’. CRH shares were up 1.0% to 3,922.00 pence each in London on Thursday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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