Cemargos raises US$750m in preferred share issuance

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Colombia: Cementos Argos has raised US$750m from the preferred shares-issuance in the local and international markets, according to a letter to the Colombian financial services watchdog Superfinanciera. The share-issuance was oversubscribed, with demand amounting to US$1.18bn from more than 14,000 Colombian and international investors.

Of the interested investors, 65% were local investors and 35% were from abroad. Additionally, 58% of the interested parties were institutions and 42% were individuals. The proceeds from the transaction will be used by the company to support its growth in the cement and concrete industry.

URL: https://globalcement.com/news/item/1656-cemargos-raises-us$750m-in-preferred-share-issuance

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