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Seacem sells shares to comply with public float, Philippines

07 June 2013, Published under Cement News

Philippine-based Southeast Asia Cement Holding (Seacem) is selling PHP194m worth of shares to comply with the 10 per cent minimum public ownership set by the country’s stock exchange. Seacem said in a disclosure to the Philippine Stock Exchange that it had signed a subscription agreement with two subscribers involving the sale of 555m at PHP0.35/share. The shares account for 7.9 per cent of the company’s outstanding capital stock. The share would boost the cement manufacturer’s public o...