CRH to quit Dublin exchange - Irish Times

DUBLIN, April 7 (Reuters) - CRH, the largest company on the Irish stock market, plans to quit the Dublin stock exchange to ensure its inclusion in the influential S&P 500 index, the Irish Times said on Friday.

In March, the Dublin-based building materials giant said it intended to move its primary listing to the United States, where it is the largest building materials supplier and made about 75% of its $5.6 billion in core earnings last year.

Euronext Dublin had hoped CRH would retain its secondary listing in Ireland even as it advanced a plan to move its primary stock quotation from London to New York, the newspaper added.

The building materials giant will remain headquartered and tax resident in Ireland, but its advisers think it would be easier for the S&P 500 committee to include the company in the benchmark index if it were not also listed in Dublin, which accounts for most of the trading volume in the stock. (Reporting by Graham Fahy; Editing by Clarence Fernandez)