Holcim plans Amrize spin-off for June 23
Published by David Bizley,
Senior Editor
World Cement,
Holcim has received key approvals to complete the 100% spin-off of its North American business to be named Amrize, with trading expected to commence on June 23, 2025.
The U.S. Securities and Exchange Commission has declared effective the Amrize Form 10 Registration Statement, which will be available on sec.gov and Holcim’s spin-off webpage. The Form 10 includes Amrize’s first quarter 2025 results reported under US GAAP, as well as financial statements from 2022 to 2024 prepared on a “carve-out” basis under US GAAP. Amrize has also received authorization to list shares on the New York Stock Exchange and the SIX Swiss Exchange under the ticker symbol “AMRZ”.
Holcim shareholders approved the spin-off with a 99.75% vote in favor at Holcim’s annual general meeting on May 14. The 100% spin-off will be completed via distribution of a dividend-in-kind with each Holcim shareholder receiving one Amrize share for every Holcim share owned as of the close of business on June 20, 2025. The spin-off is expected to be treated as tax neutral for Swiss tax and be tax-free for US federal income tax purposes. The distribution is subject to certain conditions described in the Form 10.
On June 23, shares of Amrize are expected to commence trading under the ticker symbol “AMRZ” on the SIX Swiss Exchange at 9:00 a.m. Zurich Time, and on the New York Stock Exchange at 9:30 a.m. New York City Time. Amrize will be added to the Swiss Market Index (SMI) and the Swiss Leader Index (SLI) on its first day of trading, as recently communicated by the SIX. Amrize will also seek inclusion in relevant US equity indices. Holcim will remain trading on the SIX and included in the SMI and SLI under ticker symbol “HOLN”.
Key credit rating agencies have rated Amrize investment grade, placing the company in a strong financial position. S&P Global Ratings and Moody's Ratings have rated Amrize at BBB+ and Baa1, respectively, with a stable outlook. The company has successfully secured debt financing of US$3.4 billion in bonds, a US$2 billion committed credit facility and a US$2 billion commercial paper programme. Additionally, Amrize has a bridge loan available in the amount of US$1.7 billion.
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Read the article online at: https://www.worldcement.com/the-americas/02062025/holcim-plans-amrize-spin-off-for-june-23/
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