Elementia plans IPO, Mexico

Mexico's Elementia is exploring the possibility of soon launching an initial public offering (IPO) to expand its cement business and fuel further acquisitions, the company's chief executive officer said on Monday.

Senior Elementia executive Eduardo Musalem said in a conference call that the company was looking at issuing stock and that a decision would be made by the beginning of next month. He added that it was too early to say how big the share offer could be.

The company has four divisions including cement, metals, plastics and construction operations. On Friday, Elementia said it would buy Lafarge’s stake in their Mexican joint venture for US$225m.

"Elementia has operations in nine countries, and we have been looking at opportunities in all of those countries," he said.