Displaying items by tag: Shares

Pakistan: Lucky Cement has informed the Pakistan Stock Exchange of its purchase of US$212,000-worth of its shares. The producer's board of directors passed a resolution for the buyback on 20 September 2022.

Philippines: The board of directors of Eagle Cement has acknowledged the acquisition of 89% of the producer's issued shares by San Miguel Equity Investments (SMEI). SMEI has conducted a mandatory tender offer for the remainder of Eagle Cement's shares. The board adopted three resolutions, namely to extend its cooperation to SMEI, to voluntarily delist its shares on the Philippine Stock Exchange (subject to SMEI's acquisition of more than 90% of shares) and to hold a special meeting of its shareholders.

Pakistan: Lucky Cement has informed investors that it plans to buy back shares up to an equivalent of 3.1% of its registered share capital, which it has valued at US$417,000. The company will commence the purchase from 29 September 2022, and continue until its completion or 27 March 2023.

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.