Argentina's Loma Negra the announced terms for its IPO on Thursday. The company is planning a global offering and intends to list ADSs on the NYSE and ordinary shares on the Bolsas y Mercados Argentinos (BYMA) under the symbol LOMA.

The Buenos Aires-based company plans to raise US$751m by offering 44.2m ADSs (100 per cent insider) at a range of US$15-19 plus an additional US$102m by offering up to 30m new ordinary shares at a range of US$3.00-3.80 for a combined US$853m in total proceeds. At the midpoint of the proposed ranges, Loma Negra would command a fully-diluted market value of US$2bn.

Loma Negra achieved US$708m in sales for the 12 months ended 30 June 30 2017.  Bank of America Merrill Lynch, Bradesco BBI, Citi, HSBC Corporation, Itau BBA and Morgan Stanley are the joint bookrunners on the deal.