Holcim to List North American Spin-Off on Swiss Exchange

Holcim to List North American Spin-Off on Swiss Exchange

Swiss building materials company Holcim announced plans to list shares of its North American division on the SIX Swiss Exchange, alongside a previously planned New York Stock Exchange (NYSE) listing. The dual listing is part of a spin-off set for 2025, subject to shareholder approval at Holcim’s annual general meeting on May 14, 2025.

The spin-off, valued at over $30 billion, aims to take advantage of North America’s infrastructure and construction boom. The division, which generated $11 billion in sales in 2023, has been a strong performer, with annual sales growth averaging 20%. It now targets $20 billion in annual sales by 2030 through organic growth and smaller acquisitions.

The Swiss listing is designed to accommodate European investors whose guidelines restrict them from holding U.S. stocks, helping retain key shareholders in Holcim’s home market. Swiss investors currently own about 20% of the company’s stock.

Holcim’s Chief Financial Officer, Steffen Kindler, noted in October that the separation process is progressing smoothly and remains on track for completion in the first half of 2025.