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Cemex Philippines unit to launch up to US$526 million IPO

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World Cement,

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.

Edited from source by Joseph Green. Source: Reuters

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