Cimentos Liz applies to hold IPO, Brazil

Cimentos Liz applies to hold IPO, Brazil
Published: 04 February 2011

Brazilian cement company Cimentos Liz has filed a request with securities regulator CVM to hold an IPO on the São Paulo stock exchange Bovespa, news service Agência Estado reported.

Details such as a schedule, the quantity of shares and an estimated price range have not yet been stipulated. The operation is being managed by Itaú BBA and will be held on Bovespa’s Novo Mercado forum.

Cementos Liz has an estimated 8% share of the national cement market, focusing on the southeastern states of Minas Gerais and São Paulo, the largest consumers in the country.

The company owns a cement plant near Minas Gerias state capital Belo Horizonte with capacity of about 2Mta. With expansion plans already underway, it plans to reach 4.7Mta by end-2012.

Cementos Liz sold 1.8Mt of cement in 2010, posting a net profit of BRL28.6m (US$17.1mn), according to the report.