Reuters are reporting that Cemex Holdings Philippines, a subsidiary of Cemex, will launch an initial public offering of up to US$526 million on 21 June.
The company is offering 2.03 billion shares in an indicative range of 10.50 pesos to 12.00 pesos each.
Cemex Holdings Philippines has secured US$125 million from seven cornerstone investors for the IPO.
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Holcim and Cemex have announced the completion of their series of transactions in Europe, which includes operations in western Germany, the Czech Republic and Spain.
Following the announcement last week that Fernando Gonzalez was appointed as Cemex’s new CEO, the Mexican cement giant has announced changes to its corporate staff functions.
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.
