Cement News tagged under: corporate
Taiwan Cement plans rights offer to pay down acquisition09 June 2010, Published under Cement NewsTaiwan Cement Company (TCC) is to offer one rights share for every two existing shares at a price of HK$2.10, a 27% discount to its last traded price and a 19.9% discount to the theoretical ex-rights price. Credit Suisse and Standard Chartered are joint underwriters alongside parent company TCC International, which has committed to take up its rights to 55.5% of the new shares and underwrite another 16.5%. Credit Suisse and StanChart will underwrite the remaining 28%. Proceeds will go to... |
Fitch retains Binani Cement’s ratings09 June 2010, Published under Cement NewsFitch upheld today the national long-term A(ind) rating of Indian cement maker Binani Cement Ltd. The outlook is "stable. The agency also decided to keep the A(ind) rating on the company’s INR9.4bn (USD199.5m) long-term loans, enhanced from INR7.7bn, and INR600m cash credit limits, as well as the F1(ind) rating on its INR2.5bn non-fund based working capital limits. |
HeidelbergCement to replace Salzgitter in DAX index07 June 2010, Published under Cement NewsHeidelbergCement will replace the steel company Salzgitter in Germany’s blue-chip DAX index exchange operator Deutsche Boerse said in a statement late on Friday. The change in the DAX will be effective from June 21, the exchange operator said. The sale of a majority stake in HeidelbergCement by industrial heir Ludwig Merckle last year boosted the group’s free float, helping it meet a basic criterion for entry onto the index. The revisions are important for index-tracking funds, whose port... |
BBMG to acquire Taihang Cement via share swap07 June 2010, Published under Cement NewsBBMG plans to acquire Hebei Taihang Cement through a share swap at a ratio of 1.2:1, reports China Securities Journal, citing filings by both companies. The swap prices of BBMG and Taihang Cement were fixed at CNY9/share and CNY8/share respectively. BBMG currently holds a 30 per cent stake in Hebei Taihang Cement. Upon the completion of the transaction, all the shares of Taihang Cement will be cancelled and BBMG will apply to issue A-shares in addition to its current listing in Hong Kong. ... |
Cemex prepays MXN2.64bn in bonds03 June 2010, Published under Cement NewsCemex said Wednesday night that it prepaid MXP2.64bn (US$206.7m) in bonds. The early repayment follows a public cash tender offer from May 6 to June 2 to redeem outstanding bonds maturing between November 2010 and March 2011, Cemex said in a press release. Cemex partially redeemed MXN483m in bonds due Nov. 5, 2010; MXN628m in bonds maturing November 26, 2010; and MXN1.53bn in two different series of bonds maturing March 10, 2011. Cemex said it has sufficient funds available to conduct the... |
Goldman Sachs lowers Buzzi Unicem rating to "sell"02 June 2010, Published under Cement NewsUS bank Goldman Sachs has downgraded the stock rating on Italian cement producer Buzzi Unicem to "sell" from "neutral". |
Vietnam: Ha Tien 1 to issue shares for expansion02 June 2010, Published under Cement NewsHa Tien 1 Cement Joint Stock Company (HT1), listed on the Hochiminh Stock Exchange, will issue 88 million shares for shareholders in Ha Tien 2 Cement JSC (HT2) to acquire all stake in the latter. Each stakeholder will receive one new share in HT1 for every one existing share owned in HT2. The acquisition deal will cost an estimated of US$133m, which will help HT1 increase its cement production and raise competition in the local market. After the merger, the firm will be named Vicem Ha Tien... |
Italcementi out of BofA Merrill’s "least preferred" list01 June 2010, Published under Cement NewsThe analysts at Bank of AmericaMerrill Lynch have removed the shares of Italian cement maker Italcementi from the "least preferred" list. |
Fujian Cement to buy in rights issue of Industrial Bank01 June 2010, Published under Cement NewsFujian Cement Inc announced on Friday that it plans to spend CNY15m to buy the rights issue of Industrial Bank Co Ltd. The cement producer said in a statement filed with the Shanghai Stock Exchange that it will buy 415,800 rights issue by Fujian-based lender. Industrial Bank announced earlier that it plans to raise up to RMB18bn via a rights issue to boost its capital base. The lender will issue two new shares for every ten existing shares. In 2009, Fujian Cement suffered a loss of RMB 9... |
Ha Tien 1 Cement approval to list shares01 June 2010, Published under Cement NewsThe Hochiminh Stock Exchange said Monday it has given its approval to Ha Tien 1 Cement JSC to list 88 million more shares on the bourse. The cement maker currently has 109.95 million shares listed on the Hochiminh Stock Exchange. |