Loma Negra files for IPO

Loma Negra files for IPO
06 September 2017

Argentine cement maker Loma Negra Corp has filed for an initial public offering, according to a SEC filing late Tuesday.

"We believe that the economic recovery of Argentina represents one of the most attractive opportunities in global emerging markets today," the company said in the filing.

"Cement consumption is highly correlated to economic activity and we expect demand for cement to grow significantly within the next five years in Argentina."

Risks included cement-industry cycles and political and economic conditions in Argentina and Paraguay, it said.

Loma Negra's American Depositary shares are expected to trade on the New York Stock Exchange under the symbol LOMA. Underwriters include Bank of America Merrill Lynch, Citigroup, and the investment banking unit of Brazilian bank Bradesco. No pricing terms were disclosed.

Published under Cement News