Cement News tagged under: share sale

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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...

Summit Materials in line for cement IPO?

01 October 2014, Published under Cement News

Summit Materials LLC, which is co-founded by Blackstone Group LP, is preparing an initial public offering (IPO) this year as concrete deals intensify, according to sources quoted by Bloomberg. The sharesale will be manage by Goldman Sachs Group Inc and Citigroup Inc and it is expected that the Denver-based cement company could be valued at about US$2.5bn in the IPO. Summit Materials was formed about five years ago by CEO Tom W Hill, previously North American head of building materials...