Heidelberg Materials weighs U.S. listing to tackle valuation gap

By Thomson Reuters Feb 22, 2024 | 8:22 AM

FRANKFURT (Reuters) – Heidelberg Materials is weighing a listing in the United States as a way to potentially tackle a geographical gap in valuation, its chief executive told analysts on Thursday.

While ruling out a corporate split in the vein of larger rival Holcim, Dominik von Achten said the company was looking at all other options to raise value, including a local listing.

“For me whether you list in the U.S. or whether you split your business completely and make two different players out of it is a difference,” Dominik von Achten told analysts after presenting full-year results.

(Reporting by Christoph Steitz, Editing by Rachel More)