Cement News tagged under: Initial Public Offering (IPO)

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Hoffmann Green raises EUR65.4m for its IPO

18 October 2019, Published under Cement News

France-based Hoffmann Green Cement Technologies has raised EUR65.4m as a result of its initial public offering (IPO) on the Euronext Growth Paris bourse. The total amount of the offer could be increased to EUR75.2m if the over-allotment option is taken, said the company. The price of the offer was set at EUR18/share and the transaction was oversubscribed 2.2 times. The shares will begin trading on Euronext Growth Paris on 21 October 2019. Following the IPO the market capitalisation of Ho...

Hoffmann Green launches IPO

02 October 2019, Published under Cement News

Hoffmann Green Cement Technologies (HGCT) is launching its initial public offering (IPO) 2 October. The company plans to raise around EUR50m on the Euronext Growth market. HGCT’s cement production process reduces CO 2 emissions by 80 per cent due to a modification of the composition of the cement that eliminates the need for clinker, according to the company. The France-based cement producer aims to increase its cement capacity by a factor of 11 to 0.55Mta by 2024. The IPO will provide ...

Penna Cement secures approval for IPO

04 June 2019, Published under Cement News

India’s Penna Cement Industries Ltd has received approval from the Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO). The company’s proposed IPO size is INR15.5bn (US$223.7m), with the offer comprising of fresh shares worth INR13bn and INR2.5bn of shares from the promoter, PR Cement Holdings Ltd. The company is expected to use INR10bn of the fresh net proceeds to repay or make advance payment of its debt besides using an undisclosed amount towards gene...

Emami Cement receives approval for IPO

23 May 2019, Published under Cement News

Emami Cement Ltd has received approval from the Securities and Exchange Board of India for an IPO, which could raise INR10bn (US$143.56m), according to the Business Standard. The IPO would consist of the fresh issuance of shares worth INR5bn and the rest offered for sale from existing promoters. "We have received Securities and Exchange Board of India approval on 15 May, and we will now finalise a roadmap in consultation with the merchant bankers," said a company source.

Penna Cement files for an IPO for expansion plans

05 November 2018, Published under Cement News

Penna Cement has filed for a INR15,500m (US$212.2m) initial public offering (IPO) with the markets regulator Sebi to raise funds for expansion and paying off debt. Penna Cement's CEO, Vikram Reddy said Penna Cement has an expansion plan that includes a mix of brownfield and greenfield plants that will raise the company's cement capacity to 16.5Mta by 2020. The IPO will consist of a fresh issue of INR13,000m and an offer for sale of up to INR2500m by the company's promoter PR Cement Holding...

Dangote acquisition trail could strengthen group's African network

12 October 2018, Published under Cement News

Dangote Cement's Chairman and CEO, Aliko Dangote, caught our attention this week with his announcement that Dangote Cement will begin preparations for the company's London public listing in 2019 , probably after Nigeria's general elections. Dangote Cement has previously considered an Initial Public Offering (IPO) in London, taking steps in this direction as far back as in 2010 . While the company has been one of the fastest-growing cement producers in Africa, this latest development sign...

Dangote to push ahead with London IPO

10 October 2018, Published under Cement News

Dangote Cement Chairman and CEO, Aliko Dangote, says Bank of America Merrill Lynch and Standard Chartered Bank could be among the banks to organise Dangote Cement’s London public listing in 2019. Speaking at the Financial Times Africa summit, Dangote added the listing would go ahead in 2019 after the Nigerian elections, but he could not provide a date. Edwin Devakumar, group executive director at Dangote Industries Ltd, said in an interview in Lagos earlier this year: “We are working on ...

InterCement IPO set for 2019

31 July 2018, Published under Cement News

Brazil's InterCement Participações SA of Brazil plans an initial public offering (IPO) of its operations in Europe and Africa early next year, reports Reuters. InterCement would sell up to 49 per cent of the unit, which will group the activities in these countries, the sources added. In a statement to Reuters, InterCement confirmed the IPO plans. "InterCement is considering an IPO of its assets in Portugal and Africa, proceeding with the deleveraging process that has been publicly announ...

Dangote to list in London in 2019?

09 July 2018, Published under Cement News

Dangote Cement is considering carrying out its long-planned listing of shares in London after the Nigerian presidential and parliamentary elections on 16 February 2019 and state government elections in March as it intends to expand through acquisitions, according to a report in Business Day. "We are working on it and we’ll look at it in 2019," Edwin Devakumar, group executive director at Dangote Industries, said. "We have grown to this extent mostly via greenfield investments. To grow muc...

Dangote London IPO and Eurobond would need Board approval

19 February 2018, Published under Cement News

According to Bloomberg, Dangote Cement Plc is potentially reviving plans for an Initial Public Offering sale in London that could raise about US$1bn. The Nigerian company is said to have approached investment bankers to discuss a potential UK listing and issuing a debut Eurobond. ICR spoke to a Dangote spokesperson who said, "Such corporate actions as Bloomberg reports would require Board approval..." Currently, Dangote claims no such decision has been taken on either matter.