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News Holderfin acquires Sumitomo Osaka Cement's 9.2% stake in Holcim Philippines

Holderfin acquires Sumitomo Osaka Cement's 9.2% stake in Holcim Philippines

Written by Global Cement staff 30 June 2023
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Philippines: Holderfin, an existing 18% shareholder in Holcim Philippines, has acquired an additional 9.2% stake in the company from Japan-based Sumitomo Osaka Cement. This raises its control over Holcim Philippines to more than 27%. As a result of the deal, the proportion of publicly held shares in the cement producer fell to 5%. PhilStar News has reported that Holcim Philippines is now possibly seeking to delist from the Philippine Stock Exchange (PSE).

The producer said “Holderfin informed the company that if the company will be unable to issue additional shares to the public sufficient to raise its public float to the required level, Holderfin is prepared to make a tender offer for all outstanding common shares of the company held by the public with the aim of subsequently conducting a voluntary delisting of the company’s common shares from the Main Board of the PSE.”

Last modified on 05 July 2023
Published in Global Cement News
Tagged under
  • Holcim
  • Holderfin
  • Holcim Philippines
  • Stake
  • Shares
  • Acquisition
  • shareholders
  • Sumitomo Osaka Cement
  • GCW615
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