CRH attracts new investors prior to US move

CRH is attracting new investment prior to its move to the New York Stock Exchange in September this year. According to the Irish Independent, at least 26 hedge funds have announced new or expanded American depository receipts (ADRs) in CRH. In total, hedge funds bought a net 7.53m ADRs in CRH in the three months up to 30 June 2023, reports Bloomberg.

Among the investors are Soros Fund Management, owned by billionaire George Soros, which now holds ADRs worth around US$20m, and Seth Klarman’s Baupost Group, which has a stake worth US$3.15m. Moore Capital Management holds roughly 1.48m ADRs, while Gates Capital Management also invested in CRH shares in the second quarter of 2023 prior to the US listing move.