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Latham Advises Ferrovial on NASDAQ Listing

May 9, 2024
A cross-border, multidisciplinary team represents the global infrastructure operator in the US listing.

Latham & Watkins has advised Ferrovial SE (AMS, BME, NASDAQ: FER) in connection with the admission to listing and trading of Ferrovial’s ordinary shares in the US on NASDAQ Global Select Market. The shares start trading on NASDAQ on May 9, 2024, under the ticker symbol “FER.” Latham previously advised Ferrovial in its re-domiciliation from Spain to the Netherlands via reverse merger by absorption and the admission of Ferrovial’s ordinary shares to listing and trading on Euronext Amsterdam, resulting from the merger. Ferrovial’s ordinary shares started trading on Euronext Amsterdam and the Madrid, Barcelona, Bilbao, and Valencia Stock Exchanges on June 16, 2023.

As a result of the transaction, Ferrovial will now be triple listed on the Madrid, Barcelona, Bilbao, and Valencia Stock Exchanges, Euronext Amsterdam, and NASDAQ. Ferrovial will be the first company of Spanish origin in the IBEX 35 index to list its ordinary shares on NASDAQ. The additional listing is expected to facilitate increased share ownership by infrastructure investors in the US, a market where Ferrovial has been present for over 20 years, and where it maintains a substantial portfolio of infrastructure assets.

The Latham team was led by London corporate partner Ryan Benedict, with associates Daria Latysheva, Gabriela Barriuso Clark, and Rebecca Reeve. Advice was also provided on US securities matters by Washington, D.C. partners Paul Dudek and Michele Anderson and New York/Chicago partner Roderick Branch; on Public Company Representation matters by New York counsel Irina Yevmenenko and associate Catriela Cohen; on US tax matters by New York partner Jiyeon Lee-Lim and London associate Farrah Yan; and on employment matters by New York counsel Rifka Singer with associates Alisa Hand and Anne Bracaglia, with further advice provided by specialist teams on matters including compliance, ESG, privacy and cybersecurity, and sanctions and political contributions, among others.