Eagle Cement plans P9.2-B initial public offering | ABS-CBN
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
Eagle Cement plans P9.2-B initial public offering
Eagle Cement plans P9.2-B initial public offering
ABS-CBN News
Published Mar 02, 2017 02:40 PM PHT
MANILA - Eagle Cement Corp. plans to raise up to P9.2 billion through an initial public offering in May, according to a stock exchange filing.
MANILA - Eagle Cement Corp. plans to raise up to P9.2 billion through an initial public offering in May, according to a stock exchange filing.
The country's fourth largest cement maker, controlled by tycoon Ramon Ang, plans to sell up to 575 million common shares at P16 per share, according to documents.
The country's fourth largest cement maker, controlled by tycoon Ramon Ang, plans to sell up to 575 million common shares at P16 per share, according to documents.
After the initial public offering, Eagle Cement will have public ownership of 11.5 percent and a market capitalization of P80 billion.
After the initial public offering, Eagle Cement will have public ownership of 11.5 percent and a market capitalization of P80 billion.
Proceeds from the share sale will be sued to finance the construction of the company's P12.5-billion plant in Cebu.
Proceeds from the share sale will be sued to finance the construction of the company's P12.5-billion plant in Cebu.
ADVERTISEMENT
Eagle will be the third cement manufacturer to list shares on the Philippine Stock Exchange after Holcim Philippines Inc. and CEMEX Holdings Philippines Inc.
Eagle will be the third cement manufacturer to list shares on the Philippine Stock Exchange after Holcim Philippines Inc. and CEMEX Holdings Philippines Inc.
ADVERTISEMENT
ADVERTISEMENT
