CRH to switch to primary listing on NYSE

CRH, a publicly traded construction materials producer, will be transitioning to a primary listing on the New York Stock Exchange (NYSE).

The company’s shareholders approved the recommendation of the CRH board and management team to transition to a primary listing on the NYSE. CRH will retain a standard listing on the London Stock Exchange and will delist from Euronext Dublin.

CRH expects the changes to take effect on or around Sept. 25.

“We believe a U.S. 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 says in a written statement.

According to CRH, North America represents about 75 percent of its EBITDA (earnings before interest, tax, depreciation and amortization).

“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,” says Albert Manifold, chief executive of CRH.