JPM Says Firms Relisting In US Get Passive Fund Boost
- CRH, Ferguson, Linde all saw discounts to US rivals narrow
- US firms see higher passive investment capital, says Matejka
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European companies that relist in New York tend to see improved valuations, in part due to the prevalence of passive investing in the US, according to an analysis by JPMorgan Chase & Co.
Building materials firm CRH Plc, infrastructure company Ferguson Enterprises Inc. and industrial gas firm Linde Plc have seen their discount to US rivals narrow by 15%, on average, since one year before completing their listing changes, the bank said in a note to clients.