Cement News tagged under: share purchase

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Damani family increases stake in India Cements

19 January 2021, Published under Cement News

Radhakishan Damani and Gopikishan Damani have increased their stake in India Cements during the October-December 2020 quarter. Radhakishan Damani increased his stake by 0.54 per cent, now holding an 11.34 per cent stake in the company against 10.8 per cent at the end of the July-September quarter. At the same time, his brother Gopikishan Damani now owns 8.46 per cent of the total paid-up capital in the company, up from 8.26 per cent in the 2QFY20-21. In addition, together the brothers ...

Dangote Cement set to begin share repurchase scheme

22 December 2020, Published under Cement News

Nigeria’s Dangote Cement is planning to begin a share buyback programme, starting with a first tranche of 85.2m shares or 0.5 per cent of the total in issue. The purchase is set to take place on 30 December. It is Nigeria’s first company to undertake a share buyback, as previous attempts failed due to fears that the process may be abused. The repurchase plans are not expected to exceed 10 per cent of its issued capital. The shares being purchased will be held as treasury shares and could...

Cevian Capital increases stake in CRH

20 March 2020, Published under Cement News

Cevian Capital, Europe’s largest activist investor, has increased its stake in CRH to above three per cent for the first time. "As a long-term investor, we are pleased to be able to increase our ownership and commitment to CRH at a share price that is well below our view of the value of the group's assets," said Cevian Capital partner, Gustav Lundgren. "We remain convinced of CRH's potential and support the company's efforts to unlock value and enhance long-term competitiveness," he ad...

India Cements sees investors increase stake

17 March 2020, Published under Cement News

The Damani family, one of India’s wealthiest, further increased their stake in India Cements from 11.98 per cent to 16 per cent through open market transactions on 16 March. This follows the family boosting their stake from 7.27 per cent to 11.98 per cent on 26 February 2020.

Huaxin Cement plans share buy-back scheme

20 December 2019, Published under Cement News

China’s Huaxin Cement has announced its intention to buy back company shares worth around CNY100-125m (US$14.21-17.76m) within the next 12 months. The company also stated its plans to issue offshore bonds worth up to US$500m. 

PPC to consider buying remaining stake in Cimerwa

26 June 2019, Published under Cement News

Cimerwa's main shareholder, Pretoria Portland Cement Co (PPC), is considering buying the shares in Cimerwa that are currently held by the Rwandan government and minority shareholders. The government has set a deadline of 5 July for investors to bid for its stake in Cimerwa.

 The Rwandan government hold a 16.54 per cent share in the cement producer and PPC owns 51 per cent of the company, while the Rwanda Social Security Board (20.24 per cent), Rwanda Investment Group (11.45 per cent) and S...

Transaction of major stake in Dandot Cement is completed

30 April 2019, Published under Cement News

Dandot Cement Co Ltd has informed Pakistan Stock Exchange (PSX) that Calicom Industries has acquired 63,542,787 shares of the company. Earlier, the company had reported that it received an intention from Calicom Industries to acquire control and 63,542,787 voting shares (67 per cent of paid-up capital) of the company. The buyer is expected to invest in the modernisation of electrical equipment at its facilities. In the FY18 capacity utilisation at Dandot Cement stood at 44 per cent and...

CRH completes fourth phase of share buyback

02 April 2019, Published under Cement News

CRH plc has completed the fourth phase of its share buyback programme, returning a further EUR200m of cash to shareholders, according to a press release. Between 2 January and 29 March 2019, 7.6m ordinary shares were repurchased on the London Stock Exchange and Euronext Dublin at an average discount of 0.6 per cent to the volume weighted average price over the period. This now brings total cash returned to shareholders under the programme to approximately EUR1bn over the last 12 months...

Potential investors in Carthage Cement seek improved conditions

17 January 2019, Published under Cement News

The call for tenders for the sale of 50.52 per cent of Tunisia-based Carthage Cement attracted several investors, of which five prequalified and were asked to submit their financial offers by 7 December 2018. However, despite their clear interest, they were unable to submit a financial offer for acquisition, according to African Manager. While these investors have reiterated in writing their continued interest in reaching a deal, they have asked for an improvement in the conditions of th...

CRH completes third phase of share buyback

31 December 2018, Published under Cement News

CRH has completed the third phase of its share buyback  programme .  Between 27 November and 21 December 2018, 4.1m ordinary shares were repurchased on the London Stock Exchange, bringing total cash returned to shareholders under the ongoing EUR1bn share buyback  programme  to EUR800m.   The company also announced that it has entered into  arrangements with UBS AG, London Branch (“UBS”) to repurchase ordinary shares on CRH’s behalf for a maximum consideration of EUR...