Cement News tagged under: shares

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Nigeria: Ashaka Cement to delist from NSE

18 November 2016, Published under Cement News

LafargeHolcim subsidiary Ashaka Cement has said that it will voluntarily delist its shares from the Nigerian Stock Exchange (NSE) after the freely-tradable proportion fell below the 20 per cent required by the bourse’s regulations, Vanguard News reports. At present, only around 15 per cent of Ashaka stock is tradable on the NSE. Ashaka made the offer to delist to head off the possibility of the NSE taking regulatory action against it. An extraordinary general meeting will be convened t...


05 October 2016, Published under Cement News

Following the closure of its mandatory offer for Italcementi, HeidelbergCement now holds 96.4 per cent of the shares and has stated its intention to acquire the remaining shares as it holds in excess of 95 per cent of the equity. The Italcementi shares will be de-listed on the 7 October 2016.

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.

South Africa: PPC shares drop

24 May 2016, Published under Cement News

PPC Ltd shares plunged after it said talks with a credit ratings agency will probably lead to a downgrade. The company is preparing a capital raising of ZAR4bn (US$254m) to be used to reduce debt and fund expansion plans, PPC said in a statement. It said shareholders will be advised on the credit agency’s final decision when it has the information. PPC stock declined 18 per cent, its largest drop on record, to ZAR11.25 on Monday. Company shares are down 27 per cent for the year. To co...

Pakistan: Dewan denies sale of 50% stake

23 May 2016, Published under Cement News

It has been rumoured that 50 per cent of Dewan Cement Ltd (DCL) shares are being sold to undisclosed strategic buyers. As a result the company’s share value and volume experienced heavy activity in the past weeks on the Pakistan Stock Exchange (PSE). DCL has denied any such sales to the PSE, claiming, “Many shareholders for their personal benefits circulate rumours and speculation, to which we have no control. Further we hereby confirm that we have nothing to do with the trading volume in D...

Lafarge Pakistan to issue 143m to Pakistan Cement Holdings

04 February 2014, Published under Cement News

Lafarge Pakistan Cement Ltd (LPCL) has received formal approval from the country's Securities and Exchange Commission to issue 143m shares to its holding company at par value (PKR10/share). This will increase the holding of Lafarge SA in Lafarge Pakistan from 73 to 76 per cent, according to a note to the Karachi Stock Exchange. The move, which reflects Lafarge SA's confidence in the Pakistani subsidiary, contradicts market newsflow that a potential sell-off or merger was on the cards. ...