CSN requests IPO for cement division

CSN requests IPO for cement division
20 May 2021

After the recent IPO of its mining arm, Brazilian steelmaker CSN is now looking to list shares of its cement division. The company requested authorisation from securities regulator CVM for the IPO of CSN Cimentos, although it did not provide further details. 

Cement sales in Brazil increased 20.8 per cent in the first four months of the year to 20.5Mt, according to preliminary figures from industry association SNIC. "The consumption of cement by infrastructure projects is medium and long term. The impact of these concessions on cement consumption will be felt from 2022 onwards," SNIC said in a release. 

According to local media, Intercement Brasil, the cement unit of Mover-controlled InterCement Group, is also planning an IPO. Intercement sold around 8.7Mt in 2020 and has an installed cement capacity of 17.2Mta.

Meanwhile, European cement giant LafargeHolcim is reportedly considering the sale of its Brazil unit, reports bnamericas.

Published under Cement News