Jurong Cement receives de-facto approval for de-listing
Jurong Cement Ltd has received in principle approval to de-list itself from the Singapore Exchange. Jurong’s shares were suspended in January after the public holding in the company fell below the 10% required by listing rules.
Holcim Investments, Jurong’s controlling shareholder made an offer in January to buy all the shares it does not already own for US$ 2.50 each.
After the offer, Holcim were left with 88.13% of Jurong Cement and have no plans to restore the public float, meaning Jurong Cement Ltd must de-list itself from the Singapore Exchange.
The approval from Singapore Exchange to de-list is subject to them not changing the exit offer of US$ 2.50 a share, and the de-listing date being made no sooner than two days after the shareholders have been informed.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/02042010/jurong_cement_receives_approval_for_de_listing/
You might also like
World Cement Podcast
In the latest episode of the World Cement Podcast, we are joined by Eoin Condren, Corporate Development Executive Director for Ecocem. Topics covered include: the importance of investing in innovation, the role of policy and legislation in supporting next generation cement products, and a look at some exciting new technologies.
Holcim breaks ground of OLYMPUS flagship project in Greece for near-zero cement
Holcim has broken ground at the state-of-the-art OLYMPUS project at its plant in Milaki, Greece, engineered to produce 2 million tpy of near-zero cement from 2029.
