Cement News tagged under: Initial Public Offering (IPO)
India: JSW Cement to go public by FY1920 October 2016, Published under Cement NewsParth Jindal, managing director of JSW Cement, has told the Deccan Herald newspaper that his company will issue its first public shares when it reaches 20Mta capacity. “We will go for IPO once we reach a capacity of 20Mt. Right now, we have a production capacity of 7Mt, and plan to reach 30m by 2020. “JSW Cement would like to achieve 17m capacity by opening up eight grinding units across the country. This will require an investment of INR27bn [US$405m]. “The company can achieve the... |
Vietnam: government to sell Vicem stakes04 July 2016, Published under Cement NewsAccording to a local news source, the Ministry of Construction is set to divest its stakes in Vicem through an initial public offering in 4Q16. Cement producer Vicem currently control 34 per cent of the local market. At the end of last year the company announced on its website that the share sale would pare the state holding to a minimum of 51 per cent. Investors from Thailand and Indonesia have expressed their interest in acquiring the stakes in Vicem. However, foreign investors will be ... |
Cemex IPO values Philippines subsidiary at US$536m30 June 2016, Published under Cement NewsCemex has today announced that it will price shares in its subsidiary, Cemex Holding Philippines, at PHP10.75 (US$0.23), valuing the operation at around US$536m. Reuters News quotes Eduardo Francisco, president of underwriter BDO Capital & Investment Corp as stating: “That's good so there will be more upside and to ensure more demand post-listing”. Mr Francisco added that the offering was already oversubscribed. The valuation comes at the low end of the range earlier indicated by Cemex... |
Elementia raises MXN3.93bn with IPO, Mexico17 July 2015, Published under Cement NewsMexican construction holding Elementia raised MXN3.93bn (US$250.15m) with its initial public offering (IPO) on 9 July 2015. The company set an initial price of MXN17 per share and obtained resources 15 per cent below the estimated target of MXN 5.20bn. The maximum share price reached MXN18.50 which resulted in a net sum of MXN 3.77bn obtained, which will be invested in Fortaleza, the company's cement division. The resources will cover the expansion of production capacity at its Tula ... |
Elementia plans IPO, Mexico23 September 2014, Published under Cement NewsMexico's Elementia is exploring the possibility of soon launching an initial public offering (IPO) to expand its cement business and fuel further acquisitions, the company's chief executive officer said on Monday. Senior Elementia executive Eduardo Musalem said in a conference call that the company was looking at issuing stock and that a decision would be made by the beginning of next month. He added that it was too early to say how big the share offer could be. The company has four divisi... |
Egypt: Arabian Cement Co IPO over-subscribed15 May 2014, Published under Cement NewsEgypt's Arabian Cement Company's initial public share offer was 18.5 times oversubscribed, an official at advising bank CI Capital told Reuters on Tuesday. The offer raised US$110m with 85.2 million shares sold in the offer, placed at 9 Egyptian pounds ($1.28) per share, said Hesham Gohar, managing director for investment banking at CI Capital, which was co-bookrunner on the offer alongside EFG-Hermes. Arabian Cement said on Sunday it had set the price for its IPO at 9 Egyptian pounds a sh... |
Egypt: Arabian Cement seeks to raise US$120m from IPO12 May 2014, Published under Cement NewsArabian Cement Company has set the price for its initial public share offer (IPO) at EGP9 (US$1.28) a share after a private placing was 11.3 times oversubscribed, the company said on Sunday. The offer, whereby Arabian Cement is seeking to raise around US$120m will make it the first major company to enter the stock exchange since the overthrow of Hosni Mubarak in 2011. The company plans to sell 85.202 million shares of which 59.641 million were placed. Last month it set an indicative pri... |
Egypt: ACC set for IPO29 April 2014, Published under Cement NewsEgypt-based producer Arabian Cement Company has set an indicative price range for its planned stock market listing at between EGP8.45 and EGP9.55 (US$1.37), with trading to begin on or around 21 May 2014, Chief Executive Jose Maria Magrina said on Monday. The deadline for buying orders will be on 8 May 2014 for private placement and 13 May for retail investors. The price of the initial public offering (IPO) will be announced on 10 May, he told Reuters in emailed statements. Magrina also to... |
Norton Rose Fulbright advises on Arabian Cement IPO in Egypt24 April 2014, Published under Cement NewsGlobal legal practice Norton Rose Fulbright is acting as international transaction counsel for the announced Arabian Cement Company (ACC) initial public offering (IPO) in Egypt and international institutional offering on the Egyptian Exchange (EGX). EFG Hermes and CI Capital are acting as Joint Global Coordinators in connection with the offering. ACC, the Egyptian cement producer, is majority-owned by Spain's Cementos La Union. The offering will involve a sale of shares by certain min... |
Bosowa Maros plans IPO by 201616 April 2014, Published under Cement NewsThe Bosowa Group of Indonesia plans to take its cement unit, Semen Bosowa Maros, to an initial public offering by 2016. “We may go public within the next two years. The market’s been anticipating Semen Bosowa will go public, since many cement makers have entered the bourse,” Sadikin Aksa, managing director at Bosowa Corporindo, told the Jakarta Globe. While the company is focussing on the local market for the time being, it also plans to expand to Vietnam and Myanmar within five years, ... |