Philippines: Republic Cement & Building Material plans to delist

Philippines: Republic Cement & Building Material plans to delist
18 January 2016

Republic Cement & Building Materials Inc (RCBM) has applied for delisting of its shares from the
Philippine Stock Exchange (PSE), effective 15 March 2016.The move follows the acquisition by AEV CRH Holdings of RCBM.

Last August AEV CRH conducted a tender offer for 649.08m common shares held by RCBM’s
minority shareholders at PHP10.26 (US$0.21) each. As of 15 September, RCBM’s publicly-owned common shares comprise approximately 0.91 per cent of its outstanding capital stock. According to the PSE, a company that fails to comply with the 10 per cent minimum public ownership requirement may apply for voluntary delisting.

AEV CRH is a joint venture between Aboitiz Equity Ventures and Ireland-headquartered CRH
International, which acquired Lafarge Republic Inc for PHP24bn following the merger of Lafarge and Holcim. AEV and CRH acquired the cement assets of Lafarge as part of the process to dispose of assets  to win regulatory approval for the global LafargeHolcim tie-up.

Published under Cement News