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

Published 02/22/2024, 09:22 AM
Updated 02/22/2024, 09:27 AM
© Reuters. A general view of Heidelberg Materials cement plant at Kattameya district in Cairo, Egypt September 4, 2023. REUTERS/Shokry Hussien/File Photo

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 (SIX:HOLN), 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.

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