According to the latest Reuters report, Cemex Holdings Philippines Inc has started pre-marketing for an initial public offering of shares worth up to US$500 million, with Citigroup, HSBC and JP Morgan as joint global coordinators and BDO Capital as local bookrunner.
In a preliminary prospectus approved by the Securities and Exchange Commission this month, the company announced that it was looking to raise up to 40 billion pesos (US$860 million) at a maximum price of 17 pesos per share, which would have made it the Philippines' biggest IPO.
Books are likely to open on 15 June. It will be the Philippines' first listing since December last year.
Cemex and BirdLife, who formed a global biodiversity conservation partnership in 2007, held a ceremony endorsing the European Union’s Nature Conservation Policy.
As part of a new co-processing agreement, Cemex uses the non-recyclable waste produced at GM Motors’ San Luis Potosi complex in Mexico as a form of alternative fuel in its cement plants.
Construction of the EURUS wind farm project was completed on 15 November 2009. The wind farm will supply approximately 25% of Cemex’s energy needs in its Mexican cement plants.