Anhui Conch - June 2015


On 18 June Conch International Holdings (HK) Ltd, a wholly-owned subsidiary of Anhui Conch Cement, entered into a share subscription agreement with West China Cement. The total subscription price is equivalent to around HKD1.53bn (US$197.4m) and represents 20 per cent of West China’s issued share capital, or 16.67 per cent of its enlarged share capital. West China, which currently operates 14 cement plants across northwestern China, is expected to use the resulting liquidity for future acquisitions and investments.

Anhui Conch led the gains on the Hang Seng Index last week, climbing 4.8 per cent after an 11 per cent slump the previous week. The Index itself had fallen 5.7 per cent, its steepest drop since May 2012.