China/Taiwan: Asia Cement (China) Holdings will be taken private in a US$647m deal by its majority owner, Taiwan-listed Asia Cement Corp. Asia Cement Corp offers US$0.41 per share for the remaining stakes in its Hong Kong-based unit, marking a 3% discount on the last closing price. Trading in Asia Cement China shares, suspended since 28 May 2024 after a surge, will resume on 6 June 2024. The firm is impacted by China’s struggling property sector and recorded a first-quarter loss of approximately US$18m in April 2024.
Asia Cement Holdings to go private
URL: https://globalcement.com/news/item/17439-asia-cement-holdings-to-go-private
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