RHI Magnesita enters London Stock Exchange
Published by Rebecca Bowden,
Assistant Editor
World Cement,
RHI Magnesita has announced that all issued ordinary shares of RHI Magnesita will today be admitted to the premium segment of the Official List of the UK Financial Conduct Authority and to trading on the London Stock Exchange’s main market for listed securities. Dealings in the Company’s shares will commence on the Main Market at 8 am on 27 October 2017.
The cross-border merger of RHI with its wholly-owned subsidiary RHI Magnesita became effective on 26 October 2017 and RHI ceased to exist as a legal entity. The last day of RHI’s shares on the Vienna Stock Exchange was on 25 October 2017. Completion of the share purchase agreement between RHI, the Company and the controlling shareholders of Magnesita, GP Investments and Rhône Capital, and certain other sellers, occurred on 26 October 2017.
The Company is not raising any funds in connection with Admission. No shares have been offered or marketed to the public in the UK or elsewhere in connection with Admission. The Company’s TIDM code on the London Stock Exchange will be ‘RHIM’, with an ISIN of NL0012650360 and, on Admission, there will be 44 819 039 ordinary shares in issue.
Stefan Borgas, CEO of RHI Magnesita, said: “Today’s London listing is the beginning of our journey as RHI Magnesita, the clear global industry leader in refractory products and services. Our focus now is to complete the integration, build the business in regions and products where we don’t have a significant presence, and use our combined best in class technological know-how to find new solutions for our customers.
“We are starting this journey with the best and most passionate people in the industry who are committed to work together to deliver the planned synergies, generate strong cash flow and deleverage the balance sheet thereby creating value for all our stakeholders. I am excited about the future of RHI Magnesita and the role we can play in the future of the refractory industry.”
Read the article online at: https://www.worldcement.com/europe-cis/27102017/rhi-magnesita-enters-london-stock-exchange/
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