Ferrovial to end Amsterdam listing on Sept. 10 as Nasdaq captures 59% of trading volume

Delisting from Euronext Amsterdam

Ferrovial will remove its ordinary shares from Euronext Amsterdam in September 2026, three years after moving its registered seat to the Netherlands. The last trading session on the Dutch exchange is scheduled for September 10, 2026, with the delisting becoming effective on September 11, 2026. The company, chaired by Rafael del Pino, informed the Comisión Nacional del Mercado de Valores (CNMV) of the decision. Euronext Amsterdam has already approved the request to terminate trading of Ferrovial shares.

The infrastructure group justified the move by pointing to the negligible trading activity remaining in Amsterdam. Euronext Amsterdam now accounts for just 0.15% of Ferrovial's average daily trading volume, a level the company considers too low to justify maintaining a third listing venue.

Trading volume shifts to the US

After two years on Nasdaq and three on Euronext Amsterdam, Ferrovial's trading activity has redistributed decisively toward the United States. Nasdaq in New York now concentrates 59.21% of average daily volume, while Spanish exchanges account for 40.63%. The company debuted on Nasdaq in May 2024, one year after relocating its registered seat from Spain to the Netherlands, a move it described as facilitating its Wall Street debut.

Nasdaq New York59.21%

Spanish exchanges40.63%

Euronext Amsterdam0.15%

Nasdaq New York

59.21 %

Spanish exchanges

40.63 %

Euronext Amsterdam

0.15 %

Data from the article text

Ferrovial said the decision is aligned with its long-term strategy and aims to simplify its listing structure and improve the efficiency of its stock market profile. The progressive increase in liquidity on Nasdaq and the Spanish exchanges has rendered the Amsterdam listing largely redundant.

“This measure is aligned with Ferrovial's long-term strategy and the interests of its stakeholders, while simplifying the company's listing structure and seeking to improve the efficiency of its stock market profile.”

Dutch seat and governance retained

The delisting does not involve a change of registered seat. Ferrovial will remain a Dutch company, subject to Dutch regulatory and corporate governance frameworks. The move affects only the company's listing structure, not its legal domicile. The company will continue trading on Nasdaq in New York and on Spanish stock exchanges.

Political and regulatory backdrop

The 2023 relocation of Ferrovial's seat from Spain to the Netherlands caused friction with Economy Minister Nadia Calviño and drew complaints from the CNMV, which objected to the company citing difficulties in the Spanish market for dual listing in New York. The episode also dealt a blow to BME, the operator of the Spanish stock exchange, as competitor Euronext secured one of Spain's largest listed companies and positioned itself as a bridge to US markets. The delisting from Amsterdam now closes a chapter that began with that contentious move.