Ferrovial advanced on Friday that none of the shareholders who opposed moving the company’s headquarters to the Netherlands at the meeting decided to exercise the right of dismissal, which would allow them to receive predetermined compensation from the company for their shares. . , and thus the company was facing its departure to Amsterdam with all its ship shareholders. This has prompted massive support company price improvement, Shares, which started Monday at €29.47 per title, reached €29.79 first thing in the morning and closed the session at €29.74, very close to the historic maximum reached just before the pandemic.
Economist and ESIC professor Fernando Castillo Cervent explains that “there is a certain causal relationship between the company’s decision to move its headquarters to the Netherlands and the rise” and that the information released on Friday, which new shareholder approval of the move, It affected the company’s stock performance today.
Castillo understands that the increase in Ferrovial shares also benefited from the bullish tone of the day, Where other IBEX companies presented a remarkable upward trend. From now on, he notes, “there’s a free way for the value to continue to grow.”
The economist explains that the continued revaluation of the shares of the construction company is due to several factors. Among them, he cites the importance of access The Amsterdam Stock Exchange and subsequent entry into the New York Stock Exchange: “This opens doors to a new business model, with greater access to more financing and entry into new markets.”
With the next steps in Ferrovial’s plan, the company will be able to list in both cities, where the markets are larger than those in the Spanish capital. “The US and Dutch stock markets open Possibilities of financing the contracting company. This means that they can focus on new concessions such as highways or airports, which will provide them with greater competitiveness, ”Castillo develops.
According to analyst Darío García of XTB, “the performance of Ferrovial shares is justified by shareholder support for listing on Wall Street through the Dutch market.” The expert believes that Market reaction is supported After the presentation of the results by the head of the construction company, Rafael Del Pino.
According to the analyst, in this presentation, the head of the multinational company gave “objective reasons why the operation is beneficial to the company and by association to the shareholders.” He adds that after the operation, the partners They keep paying the price To return to an all-time high of 30.5 euros per share “, which was reached during a pre-Covid session. However, the maximum value of the share at the close, at the same moment, reached 29.82 euros.
He explains that “in the absence of relevant macro data today, markets opted for increases, which was in the case of Ferrovial Slight 0.88% ». It is also “very likely” that in the medium and long term the action’s behavior will remain bullish “at least” until the process is closed.
The analyst concludes that “the first move will be to reach 30.50 EUR and after that we have to watch the behavior”. In light of this, he adds that “if we look at the basics, We can see new historical levels.” But a certain downward correction of the company’s share value can be observed due to the investors’ decision to collect the benefits obtained from the increases in recent weeks. “It is possible that we will continue to see new levels in value that we haven’t seen yet,” Garcia asserts.
Ferrovial stock has been doing well in part Analysts expect it. A report released just a few days ago by Bankinter’s team of analysts confirmed that moving the headquarters to the Netherlands “has no practical implications for the Spanish investor and will facilitate access to foreign investors”.
Bankinter Analysts do not expect financial problems, On the basis that Ferrovial already operated its foreign business through a subsidiary in the Netherlands. In addition, they agree with the XTB analyst that the shares still have room to run and could reach 31.40 euros per share, from 26.90 euros that were flat before the announcement of their move to Amsterdam.
Castillo also states that Ferrovial’s plan allows them to Play in another league. Therefore, “it is logical that the demand for shares of the construction company will increase, and with it its price,” he concludes.