Displaying items by tag: Shares

Taiwan: Hsing Ta Cement has reduced its paid-in capital by 0.2% to US$108.9m from US$109.1m. The reduction is the result of the company’s cancellation of treasury shares.

Egypt: Private investor Sadiq Ahmed Sadiq El Sewedy has enlarged their stake in Arabian Cement to 11% from 9.5%. The investor paid US$1.6m for the additional shares. Al Ahly Pharos and EFG Hermes Holding provided brokerage services for the deal.

Arabian Cement recorded a profit of US$6.17m in the first half of 2022, compared to a US$1.2m loss in the first half of 2021.

Cyprus: Cyprus Cement has informed the Cyprus Stock Exchange that it has reduced its issued share capital by 14% to Euro50.9m from Euro59.2m. The company will return Euro8.26m in cash to investors.

India: ACC and Ambuja Cements shareholders tendered some of their shares under a US$3.8bn open offer by Adani Group for a further 26% stake in each company. The offer closed on 9 September 2022, and the group secured ownership of a further 2.2% stake in ACC and a further 0.4% stake in Ambuja Cements.

Adani Group agreed to acquire Switzerland-based Holcim’s 50% ACC stake and 63% Ambuja Cements stake for US$10.5bn in May 2022.

Taiwan: Hsing Ta Cement says that it has cancelled a planned repurchase of US$266m-worth of its shares. The purchase was the company’s fourth successive planned transaction of that kind. It retains a total shareholding worth US$114m.

In the second quarter of 2022, Hsing Ta Cement recorded sales revenues of US$100m and a net profit of US$2.23m.

China: Tangshan Jidong Cement plans to raise US$148m through an issuance of bonds. Reuters News has reported that the producer will use some of the funds to repay its debts, and the remainder to replenish its capital.

China: Tianshang Jidong Cement will list and circulate 5% of its shares on 14 July 2022. The producer has the approval of the China Securities Regulatory Commission to raise funds of US$298m from the sale to support its merger with BBMG East Cement.

Colombia: Grupo Gilinski has abandoned its plan to buy a 26% stake in Grupo Argos. Grupo Argos shareholders reportedly offered the prospective buyer an 11% stake in the group on 6 July 2022. This fell below the minimum stake for the tender offer.

Australia: Boral Finance has announced the early results of a tender offer to purchase cash up to US$300m. The principal amount tendered is US$405m. The tender offer will expire on 20 July 2022.

Ireland: CRH bought a further US$300m-worth of its shares between 17 March 2022 and 15 June 2022. The purchases bring the group’s total investment in its on-going share buyback programme to US$3.5bn since May 2018. It will now proceed with a further US$300m buyback, ending on or before 30 September 2022.

On 28 April 2022, CRH’s annual group meeting voted for the group to repurchase a total of 10% of its shares.