Cemex, S.A.B. de C.V., has announced that Cemex Holdings Philippines, Inc., an indirectly wholly-owned subsidiary of Cemex España, S.A., has filed a registration statement with the Securities and Exchange Commission of the Philippines relating to an initial public offering of CHP’s common shares.
Subject to obtaining the corresponding approvals from the Philippine SEC and the Philippine Stock Exchange for the listing of CHP’s shares on the PSE, CHP has the intention to, in a public offering to investors in the Philippines and, in a concurrent private placement to eligible investors outside of the Philippines, offer a minority interest in CHP’s capital stock. CHP's assets consist primarily of Cemex’s cement manufacturing assets in the Philippines.
The filing of the registration statement with the Philippine SEC is a first step in one of the alternatives Cemex is exploring in the context of Cemex’s previously announced asset divestiture plan. Cemex continues to explore other alternatives, and the ultimate implementation of any such alternative remains at the discretion of Cemex.
Adapted from press release by Joseph Green
Read the article online at: https://www.worldcement.com/asia-pacific-rim/14032016/cemex-subsidiary-files-registration-statement-philippine-authorities/