Asia Cement Holdings to Go Public on SEHK

Asia Cement Holdings to Go Public on SEHK
17 April 2008

Taiwan-based Asia Cement Corporation plans to spin off Asia Cement Holdings, its business in Mainland China, for a listing on the Stock Exchange of Hong Kong, scheduled on May 20, 2008.
The listing vehicle will kick off an IPO of 375m shares, including 90% as international tranche, and 10% as retail tranche. US$250m will be raised and used for plant expansion, loan repayment, strategic investment, and working capital enrichment.
ABN Amro Holding NV (ABN) is said to be its sponsor.
Credit Suisse Group analyzes that the supply of mixed coal will be tight in Taiwan in 2008, affecting the cement production of Asia Cement Corp. in the area. But Asia Cement Holdings is to see its proceeds grow by 63% in 2008 and 70% in 2009, with the increase of its production capacity.
In 2007, Asia Cement’s profit from the Mainland swelled from TWD410m a year ago to TWD1.45bn.
Published under Cement News