Displaying items by tag: Shares

Germany: HeidelbergCement plans to proceed with its on-going share buyback programme in early 2022 with a second tranche of purchases worth Euro300 – 350m. The group expects to conclude the tranche in mid-2022. It previously finished buying back 2.7% of its shares in December 2021. On 13 January 2021, HeidelbergCement announced that it had retired all shares purchased under this previous tranche.

Nigeria: Dangote Cement plans to buy back 1% of its issued shares under its on-going share buyback programme. The Business Post newspaper has reported that the group launched the first tranche of the programme in 2020. At that time, it bought back 0.2% of its shares. Dangote Cement will make the currently planned purchase when the second tranche commences on 19 January 2022.

Bangladesh: UAE-based Ras Al Khaimah Cement is considering the acquisition of Chimera Investments’ and IHC Holding Company’s stakes in manufacturing and export holding company Apex Holding. Reuters news has reported that the board of Ras Al Khaimah Cement has yet to approve any agreement.

Ireland: CRH says that it completed a further phase of its share buyback programme in late December 2021 with the acquisition of shares worth US$300m. The figure brings the company’s total investment in its on-going share buyback programme to US$2.9bn since it started in mid-2018. CRH has now launched the next phase of the programme, to continue until March 2022, during which time it plans to acquire a further US$300m-worth of its shares. France-based financier Societe Generale will act as principal for the repurchases on the Euronext Dublin exchange.

Iran: Ghadir Investment Cement Holding launched its initial public offering (IPO) on 11 December 2021. The Financial Tribune newspaper has reported that the company will seek to sell 5% of its shares. It expects to generate around US$8m from the IPO.

China: Xinjiang Tianshan Cement plans to launch an issuance of bonds. Reuters has reported the value of the issuance as US$2.36bn.

Finland: Betolar has announced the commencement of trading in its shares on the Nasdaq Helsinki exchange. Betolar launched its Geoprime alkali-activated slag and fly ash-based concrete additive in September 2021.

Tero Ojanperä, chair of Betolar’s board of directors, said “The company has so far been developed with a strong ownership with the aim of creating a significant position for Betolar in the global cement market. The share issue expands our shareholder base and provides a significant capital injection to accelerate Betolar's internationalisation.” He continued “The oversubscription of the share issue signals the market's strong belief that effective market-based solutions to the climate crisis can be found. We thank all the retail and institutional investors who participated in the share issue for their trust."

CEO Matti Löppönen added “The outstandingly successful share issue provides Betolar’s executive management with a supportive mandate to start promoting the green transition in various industries globally. At the same time, it also obliges us to steer the company in line with our strategy, in which trust is constantly strengthening among shareholders and customers, as well as society decision-makers.” He concluded “The Betolar team is strongly committed to taking the growth company to the next level.”

US: Cementos Argos plans to begin trading publically in mid-late 2022 with the launch of an initial public offering (IPO) on the New York Stock Exchange.

The company said “The listing in the US will contribute to the purpose of fully capturing the business value of the company, optimising the capital structure and obtaining the necessary resources to continue executing the growth strategy that the company plans to achieve in that country as a result of the recent approval of the Bipartisan Infrastructure Law for US$1tn and the positive cycle expected for the construction materials industry in the residential, commercial and civil works segments during the next 10 years.”

India: Grasim Industries has reported a change to its shareholding arrangements. Life Insurance Corporation (LIC) of India has concluded its sale of a 2% of stake in the company. LIC retains 9.8% of shares.

Ukraine: NEQSOL Holding Ukraine has filed an application to the Antimonopoly Committee of Ukraine (AMCU) to acquire a stake in Ivano-Frankivskcement. The group will take a loan from ‘leading international’ banks to pay for the stake.

NEQSOL Holding Ukraine manager Volodymyr Lavrenchuk, said “We are hopeful for an approval of the new deal by the AMCU so that we can welcome the high-tech enterprise Ivano-Frankivskсement into the NEQSOL Holding group of companies. We recognise the long-time outstanding results achieved by the Ivano-Frankivskсement management team and staff, who have created one of the most state-of-the-art cement plants in Europe.” He added “Our group of companies has successful experience in financing, including engagement of international financial institutions, which will help to secure the required investments for maintaining a high rate of growth of the cement plant.”