Cement News tagged under: Initial Public Offering (IPO)

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JSW Cement partners with new investors to accelerate growth

29 July 2021, Published under Cement News

India-based JSW Cement has entered into definitive agreements to raise up to INR15.000bn (US$201.2m) from two global private equity investors, Apollo Global Management Inc (through its managed funds) and Synergy Metals Investments Holding Ltd.     The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being issued to the investors and the conversion of such CCPS into common equity of the company will be linked to the company’s ...

Nuvoco Vistas receives approval for its IPO

22 July 2021, Published under Cement News

Nuvoco Vistas Corp Ltd has received approval of capital markets regulator Sebi to launch its INR15bn (US$679.35m) initial public offering (IPO). The   Indian cement producer has a current cement capacity of 22.32Mta and operates 11 plants with units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana. Nuvoco Vistas, formerly Lafarge India Ltd, acquired Emami Cement in February 2020.

CSN postpones IPO

21 July 2021, Published under Cement News

Brazilian cement and steelmaker CSN has postponed an initial public offering (IPO) of its cement unit which was expected to be launched in the coming days, newspaper Valor Economico has reported. CSN Cimentos had already filed a preliminary prospectus for the IPO, but it had not disclosed the amount to be raised, price per share, or a timing for the sale. Valor said CSN had decided to halt the IPO due to recent volatile market conditions, amid the spread of the new COVID-19 Delta ...

JSW Cement to sets its sights on IPO and green cement leadership

16 July 2021, Published under Cement News

This week, we look at JSW Cement's plans for the future as it attracts interest from investors, intends to expand its domestic cement capacity and make an entry into India's ready-mix sector. JSW Cement is positioning itself closer to being listed on the bourses as preparations continue to move towards an initial public offering (IPO). It is now starting to dilute minority private equity stakes in the company to a selection of investors.  JSW Cement is estimated to be worth in the regi...

CSN requests IPO for cement division

20 May 2021, Published under Cement News

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 ...

Penna Cement refiles for IPO

17 May 2021, Published under Cement News

India’s Penna Cement Industries has refiled for its initial public offering to raise INR13bn (US$177.5m) through fresh equity shares while its promoters would raise INR2.5bn through an offer for sale. The company expects to use the capital to repay INR5.5bn of borrowings. It would also fund capital expenditure of INR1.05bn for its KP Line II project, while INR800m would go towards upgrading its raw grinding and cement mill in Talaricheruvu, and INR1.1bn and INR1.30bn towards setting up was...

Nuvoco Vistas set to file papers for INR50bn IPO

07 May 2021, Published under Cement News

India’s Nuvoco Vistas Corp is shortly expected to file preliminary papers with the Securities and Exchange Board of India to raise INR50bn (US$679.35m) through an initial public offering. The sale would consist of INR15bn of new shares and an offer for sale of INR35bn by its promoters, according to the Economic Times. The proceeds are expected to be used for loan repayments and general corporate purposes.

JSW Cement delays IPO plans

25 November 2020, Published under Cement News

India’s JSW Cement has pushed back its plans for an initial public offering (IPO) to December 2022, as a result of the slowdown and disruption caused by COVID-19. The company had already generated a plan to expand its combined cement capacity to 25Mta by 2023 at an investment of INR36bn (US$486.86m). "In 2019, the sector had degrowth, in 2020 COVID hit us. Now December 2022 is a logical timeline for us for the IPO," said Parth Jindal, managing director.

Dangote's IPO on LSE not expected until 2023

29 October 2020, Published under Cement News

Nigeria’s Dangote Cement is not expected to attempt an initial public offering on the London Stock Exchange until at least 2023, according to News 24. "The London listing is not something which will happen in the short to medium term," said Temilade Aduroja, head of investor relations. "We are focussed on our export strategy and increasing our foreign-currency revenue."

JSW Cement revises IPO and capacity expansion plans

28 November 2019, Published under Cement News

India’s JSW Cement has deferred its plan for an initial public offering (IPO) by a year as the slowdown in construction activity continues, according to the Financial Express. It had planned to go public by 2020 once it hit 20Mta of capacity, however, the company has revised this target to December 2021.  The company expects to go public with a valuation of around INR250bn (US$3.49bn). "We want to first get to 20Mta before we do an IPO, because that is the critical level at which we will ...