The Spanish group is a candidate, thanks to its capitalisation, to enter the large global technological index in the December review. This would attract mega funds like Invesco QQQ into its capital.
Railwayyesterday the stock market advanced another 1%. after knowing the official start of procedures for listing your shares on Nasdaq American in the first quarter, thus continuing a strong rally that began last October, since accumulates a 23% revaluation.
This stock market rally has set the capitalization of the construction and infrastructure company at 25,000 million euros (approximately 27,500 million dollars)which would make the value a clear candidate to enter the Nasdaq 100the index that groups together the one hundred largest non-financial companies on the New York Stock Exchange and is dominated by technology giants such as Apple and Microsoft.
Taking the current capitalization as a reference and according to data from Nasdaq itself, the group Ferrovial would now find itself in 111th place in the ranking from the evaluation of this parquet, at a level similar to that of Discovery of the Warner brothersin front of BioNTech and not far from DraftKings and Dollar Tree.
If some financial values are also removed, for example CME Group, CoinBase and CoStarwhich cannot be in the Nasdaq100, Ferrovial’s position would advance six places, placing it within a stone’s throw of the top one hundred companies. One would be enough revaluation of approximately 5% bid for a position in that stock market club.
Coca-Cola Europacific Partners (CCEP)the soft drink bottler presided over by Sol Daurella Yes listed in Madrid, London and New York Among other places, it managed to enter the Nasdaq 100 in December 2023, with a capitalization located at 28,000 million eurosslightly above Ferrovial.
The index Nasdaq100, although associated with the technology industry, has companies from multiple sectors. However, The magnificent 7 of the US stock exchange (Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla) have a weight of 40%, which in 2023 allowed a strong revaluation of that index, well above the S&P500.
The main advantage for companies that are part of these stock exchange references is the existence of many funds that replicate its composition in their portfolios.
In the case of the Nasdaq 100, It is estimated that there are vehicles worth more than half a billion dollars that invest in companies that are part of the index. Highlight the I invest QQQWhich the second largest exchange-traded fund (ETF) in the world with $220 billion in assets.
If it entered the Nasdaq 100 even with a reduced weight, Ferrovial would welcome the arrival of these new shareholders. Precisely one of the great objectives of the Spanish company in moving its headquarters to the Netherlands and listing itself on the market Euronext Amsterdam -beyond the Spanish stock market- there was power jump to Wall Street to enter their indices and attract additional investors.
In addition to the Nasdaq, another great objective of the company he presides over Raffaele del Pino e.g access Russell 1000where the largest companies listed in the United States appear, both on the Nasdaq and the New York Stock Exchange (NYSE). With its current value, Ferrovial would be in position 450, about. However, I couldn’t access the S&P 500the main American index, as it is reserved for companies based in this country.
Conditions
The Nasdaq 100 is more open, as it allows the entry of foreign companies and even those listed through certificates (ADR).
However, there are other conditions for accessing this index, in addition to having a high capitalisation. For example, Foreign companies must have stock options registered in the United States, as a complement to common stock.
Moreover, They must have been listed for at least three months before the date of revision of the composition of the index, which takes place every December. If Ferrovial achieves its goal of debuting its stock before the end of the first quarter, it will be able to meet that requirement.
Another necessary element is that the average daily trading volume exceeds 200,000 shares. At current prices, this would mean operations for approximately 6.6 million euros in the case of Ferrovial. Right now, it moves that amount on the Spanish stock market, but in Amsterdam – where it started trading last year – it is far from that. If New York also has difficulty mobilizing a large volume of hiring, it may miss the opportunity to enter the Nasdaq 100, at least at an early stage.
When announcing its move to the Netherlands, Ferrovial emphasized that one of its goals was “to get into the US stock indexes.”
2024-01-09 01:41:12
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