HeidelbergCement seen down on placement

HeidelbergCement seen down on placement
Published: 13 April 2010

Shares in HeidelbergCement  indicated 2.1 per cent lower after Commerzbank says it has placed 4.5 million shares in the producer maker before the market opens. The bank is placing the shares, equivalent to a stake of 2.4 per cent in HeidelbergCement, at EUR42.50, one trader says.

Commerzbank adds it is selling shares that it and UniCredit received as part of the restructuring of the Merckle family’s debt.