CRH looks to FTSE 100

Irish building materials group 723 CRH, which is currently listed on Dublin’s Iseq, is applying for inclusion in London's FTSE 100 index.

This means it will move its primary listing from Dublin to London, and that its ordinary shares listed in London will trade in sterling pence rather than in euro. Its ordinary shares will continue to trade in euro in Dublin.

The company said it believed FTSE inclusion would result in a further increase in UK and international investor awareness of CRH.

The FTSE nationality committee, which considers the qualification of shares for index eligibility, meets today while the FTSE European/Middle East/Africa Regional Committee meets in early December.

Subject to the independent deliberations of the committees, CRH said it could be included in the FTSE All-Share and FTSE 100 indices from the start of business on 19 December.

“We believe that these listing arrangements are in the best long-term interests of CRH and will increase the group’s attractiveness to a wider international investor base,” said CRH chief executive Myles Lee.

“These changes will have no impact on the operations of the group. CRH remains headquartered, incorporated and tax-resident in Ireland.”