Cemex PH's nearly P40B IPO okd | Inquirer Business

Cemex PH’s nearly P40B IPO okd

By: - Business Features Editor / @philbizwatcher
02:39 PM June 02, 2016

THE SECURITIES and Exchange Commission has approved a P39.74 billion initial public offering proposed by Cemex Holdings Philippines Inc., one of the country’s leading cement manufacturers.

The plan is to offer up to 2.338 billion shares at a price per share of as much as P17 per share, based on a document from the SEC.

The maximum offering will include 304.95 million in shares for stabilization option.

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About P24.56 billion of the offer is proposed to be sold to international investors while the remaining P10.37 billion will be earmarked for the domestic market.

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The company will be listed on the PSE’s main board.

Cemex intends to use proceeds for repayment of up to $504 million of short-term loan from a related party.

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Citigroup Global Markets UK, JP Morgan Securities plc and HSBC Singapore had been mandated as joint global coordinators and bookrunners. BDO Capital & Investment Corp. acts as domestic lead underwriter.

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TAGS: Cemex Philippines, IPO

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