Cement News tagged under: share sale

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Government extends deadline for Cimerwa stake

18 July 2019, Published under Cement News

The Government of Rwanda has moved the deadline to sell its stake in Cimerwa from 5 to 19 July, with the extension providing a chance for more individual investors and companies to submit a proposal, according to the Rwanda Development Board. The government and its affiliates hold a 49 per cent stake in the company, while South Africa’s PPC is the majority shareholder at 51 per cent. The Rwandan government had initially given PPC an opportunity to buy the remaining shares . According to...

Sama Cement reduces stake in Sinai Cement

30 May 2019, Published under Cement News

Sama Cement has announced that it has sold around 2m shares in Sinai Cement, decreasing its stake in the company from 9.689 per cent to 6.75 per cent, according to a statement released to the Egyptian Stock Exchange. The total value of the transaction was estimated at EGP16.5m (US$981,985), based on a price of EGP8.25 per share. The news follows El Sewedy Cement selling its 7.476 per cent share earlier in the month.

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.

Nassef Sawiris reduces stake in LafargeHolcim

10 January 2019, Published under Cement News

One of LafargeHolcim’s biggest shareholders, Nassef Sawiris, reduced his stake in the company by nearly 1.6m shares in December 2018. The shares had a value of over CHF66m (US$67.5m), according to a report by Handelszeitung. Mr Sawiris now holds just under 21m shares in the company, representing just over three per cent. He was once the third-largest shareholder behind Thomas Schmidheiny and Belgium’s Groupe Bruxelles Lambert (GBL).

EBRD sells its stake in Holcim Azerbaijan

02 October 2018, Published under Cement News

The European Bank for Reconstruction and Development (EBRD) has sold its 10 per cent stake in Holcim Azerbaijan to LafargeHolcim. Therefore, the company’s share in Holcim Azerbaijan has now risen from 66 to 76 per cent. EBRD had owned the shares from 2007 and refused to increase its stake in the company to 20 per cent in August 2017, according to AzerNews. Holcim Azerbaijan, formerly Garadagh Cement, operates 1.7Mta of capacity and accounts for 40 per cent of the cement market in the coun...

Shivam Cement first cement producer to IPO in Nepal

22 June 2018, Published under Cement News

Shivam Cement Ltd is set to issue 5,280,000 units in an initial public offering (IPO) at premium prices after the company received approval from the Securities Board of Nepal (Sebon). It is the first cement producer that is issuing primary shares for the general public. Shivam Cement will issue 880,000 units, or two per cent of the company’s share capital, at the rate of NPR300 (US$2.75)/unit. The company will also be allowed to issue 4,400,000 units of primary share, or 10 per cent of is...

China Resources Cement plans share sale

12 June 2018, Published under Cement News

China Resources Cement Holdings Ltd has announced that it plans to sell HKD4.19bn (US$533.98m) of new shares to its controlling shareholder, CRH Ltd, to raise capital for business development, repay debt and for working capital. CRH will the buy the new shares following its sale of the same amount of existing shares at the same price to third-party investors. The shareholding of CRH and its associates in China Resources Cement will fall to 68.7 per cent from 73.5 per cent upon completion o...

Star Cement sells 3% stake through open market transactions

19 January 2018, Published under Cement News

Star Cement has sold a 3.34 per cent stake in the company worth INR1.82bn (US$28.5m), according to Money Control. The sale was made through open market transactions by three promoters of the company. The shares were disposed at average price of INR130 each. SBI Mutual Fund also bought 15.3m shares, which translates to a 3.66 per cent stake of Star Cement. These shares were priced at INR129.9, making the total transaction worth INR1.99bn.

China: Shanshui Cement to raise HK$456m from placing

07 October 2016, Published under Cement News

Shanshui Cement announced that it has entered into a placement agreement, proposing the placing of 910-950m new shares at a price not less than HK$0.5/share. This placing price represents a 92.1 per cent discount when compared to its closing price of HK$6.29 (US$0.81). The placing shares represent 21.2-21.9 per cent of the enlarged issued share capital of the group. Estimated net proceeds stand at HK$436.85-456.25m (US$56.3-58.8m), which will be applied to settle the group’s outstanding d...

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...