Cement News tagged under: rights issue

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Cemex Holdings Philippines receives approval for rights issue

04 September 2019, Published under Cement News

Cemex Holdings Philippines has received board approval for a share sale to existing investors, with a final issue size up to the value of US$250m. The increase in authorised capital stock, followed by an equity deal, is reportedly the best option to improve its capital structure, provide balance sheet flexibility and fund the ongoing expansion of its Solid Cement plant in Antipolo, Rizal, according to the Philippine Inquirer.

Lafarge Africa shareholders approve rights issue

12 June 2017, Published under Cement News

Shareholders of Lafarge Africa Plc on Wednesday approved a proposal to raise NGN140bn (US$442m) in new capital for the cement group, local media have reported. The new capital raising will be undertaken through a rights issue, issuance of pre-allotted shares to existing shareholders in proportionate to their shareholdings. At the company's AGM in Lagos, shareholders mandated the board of directors to raise up to NGN140bn with a general provision that allows the company to convert its i...

Lafarge Africa to seek shareholders approval

17 May 2017, Published under Cement News

Lafarge Africa is to seek shareholders’ approval for a NGN140bn (US$443m) rights issue during its 58th Annual General Meeting to be held on 7 June 2017, the company has informed the Nigerian Stock Exchange. Also on the AGM agenda is a proposal to shareholders to approve the merger of subsidiary Unicem into Lafarge Africa. The proposals, according to the company, will strengthen its balance sheet and capital structure by reducing foreign currency exposure and optimising the Lafarge Afric...

South Africa: PPC lines up banks for rights issue

28 June 2016, Published under Cement News

South African’s largest producer, PPC, has announced that it has come to an agreement with four banks to underwrite its proposed ZAR4bn (US$260m) rights issue, Reuters Africa reports. The Standard Bank of South Africa Limited, Nedbank Limited, Absa Bank Limited and FirstRand Bank have been appointed to oversee the offer process, with Standard Bank also taking the role of global co-ordinator. An extraordinary general meeting is expected to be convened on or around 27 July 2016 to approv...

TCC International to raise HK$3.63bn in rights issue

02 June 2015, Published under Cement News

TCC International Holdings Ltd is seeking to raise HKD3.63bn (US$468m) in a rights issue to fund acquisitions and for general working capital. The company said Monday it plans to sell up to 1.65 billion rights shares at HK$2.2 each in the proportion of one rights share for every two existing shares held. The offer price represents a 25.17 per cent discount to its latest trading price of HK$2.94 before it halted trading Monday. The company resumed trading today.

Cementir Holding plans rights issue, Italy

14 January 2015, Published under Cement News

Cementir Holding is to ask it shareholders to approve a rights issue of up to EUR300m, the Italian cement major has said. The board is calling an extraordinary shareholders’ meeting on 23 February 2015 to mandate the board for the rights issue to be carried out in five years, in one or more tranches, with pre-emptive rights, Cementir said in a statement. “The purpose of this proposal is to increase the capital resources and the financial flexibility of the company as part of the implementa...

Gansu Cement to raise RMB1.68bn via rights issue

22 November 2012, Published under Cement News

Gansu Qilianshan Cement Group Co plans to raise up to RMB1.68bn via a rights issue. The company will sell 142m shares to its shareholders at a ratio of three new shares for every 10 held at RMB6.26/share. Proceeds from the issue will be used to repay bank loans and replenish working capital.