Cement News tagged under: share price

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Buzzi Unicem announces share purchase

02 October 2018, Published under Cement News

Following the commencement of its share buyback scheme, Buzzi Unicem has announced that it acquired 244,100 ordinary shares in the 24-28 September period. The company purchased the shares for a total consideration of EUR4.495m (US$5.2m) at an average price of EUR18.41. As of 28 September, the company now holds 297,600 ordinary shares and 29,290 saving shares, equal to 0.16 per cent of the issued share capital.

PT Indocement

18 December 2017, Published under Cement News

Earlier this year Indocement’s shares soared by as much as 54 per cent as investors looked forward to the cement producer cashing in on the Indonesian government’s US$68bn commitment to infrastructure spending in 2015-19. As 2018 looms, however, only around half of that spending his been allocated and concerns have been raised about funding availability. According to press reports, many of Indonesia’s construction companies have seen their stocks tumble this year with Waskita Karya, the c...

PT Indocement

01 November 2017, Published under Cement News

Despite an announcement on 26 October by the Indonesian government of an infrastructure budget in 2018 of IDR410.7trn (US$30.2bn), 2.39 per cent higher than 2016, shares in PT Indocement lost 4.69 per cent, after rising by 12.6 per cent the day before. According to some analysts, although the announcement is expected to benefit the country’s construction and banking sectors in particular, there are concerns over how it will be funded. The news also comes hot on the heels of the World Bank...

Anhui Conch

26 April 2017, Published under Cement News

Shares in Anhui Conch are expected to jump this month as China reveals its latest plans for a new economic zone in the province of Hebei. The new zone, known as the Xiongan New Area, is located around 100km south-west of Beijing and set to rival the two special economic zones in Shenzhen and Pudong. Xiongan New Area will house some of the non-government functions from Beijing in a bid to curb pollution and congestion, and manage population growth in the city, which is now home to 22m peop...

China: Anhui Conch most shorted stock amid economic concerns

07 October 2016, Published under Cement News

Shares in Anhui Conch have become the most shorted on the Hong Kong stock exchange as doubts grow over the sustainability of China’s property boom, Bloomberg reports. Disagreements over the future path of the Chinese property sector have led to Anhui’s shares being shorted at a level five times higher than was the case earlier in the year. While some investors are betting that a cooling property market will bring down the cement firm’s share price, other analysts think the company’s prosp...

PPC

22 July 2016, Published under Cement News

Last month saw PPC stock fall to a 13-year low following its downgrading by S&P Global Ratings, according to recent reports by Bloomberg. In response to the downgrade, the company announced plans to raise over ZAR4bn (US$279m) to tackle rising debt from its ongoing investments in new projects and challenging trading conditions in its home market of South Africa. This triggered a 6.2 per cent slump in its stock, taking it to its lowest level since March 2003. The cement producer is reporte...

Cemex IPO values Philippines subsidiary at US$536m

30 June 2016, Published under Cement News

Cemex has today announced that it will price shares in its subsidiary, Cemex Holding Philippines, at PHP10.75 (US$0.23), valuing the operation at around US$536m. Reuters News quotes Eduardo Francisco, president of underwriter BDO Capital & Investment Corp as stating: “That's good so there will be more upside and to ensure more demand post-listing”. Mr Francisco added that the offering was already oversubscribed. The valuation comes at the low end of the range earlier indicated by Cemex...

West China Cement shares drop by one third in single day’s trading

29 June 2016, Published under Cement News

Hong Kong-listed West China Cement (WCC) has seen its shares fall by 32.7 per cent in a single day, wiping US$350m off the value of the company, Bloomberg reports. At one point, the company’s shares were trading 46 per cent down on their opening value, before recovering slightly to close at HKD1.07 (US$0.14). In May West China Cement reached an agreement with Anhui Conch that would see the latter company acquire the former. However, the deal has yet to be finalised and requires officia...

Cemex stock falls over Brexit fears

28 June 2016, Published under Cement News

Cemex saw a further day of losses at the Mexican Stock Exchange (BMV). Since Friday, its shares have fallen 14.74 per cent following the announcement of the UK’s departure from the EU. On Monday, shares fell 5.6 per cent to close at a price of MXN10.61 (US$0.56)/share. The fall is attributed to the potential impact of Brexit on the company’s UK operations following the surprise result of the referendum held on Thursday, explained Marco Medina, analyst at Grupo Financiero Ve por Mas. He ad...

South Korea: Sungshin shares down

27 June 2016, Published under Cement News

South Korean company Sungshin Cement has been ranked in the bottom quartile of BSS News Bites South Korean performers for the past year. The company’s performance saw it placed 1519/1756 in the ranking, a percentile ranking of 13. Sungshin shares were also down 35.3 per cent for the year ended 27 June 2016. After climbing from KRW2920 (US$2.47) five years ago to KRW15,300 (US$12.95) one year ago, share price stood at KRW9900 (US$8.38) for this last year.