Displaying items by tag: Shares

Ireland: CRH says that it completed another phase in its on-going share buyback programme on 16 March 2022. The group purchased US$300m-worth of shares, bringing its total cash returned since the beginning of the programme in May 2018 to US$3.2bn. On 17 March 2022, it concluded an agreement to begin the purchase of a further US$300m-worth of its shares by 27 June 2022. The producer instructed investors that any decision in relation to any future buyback programmes will be based on an ongoing assessment of the capital needs of the business and general market conditions.

Greece: Titan Cement has advised the Athens Stock Exchange (ATHEX) that it has bought back a total of 2.2% of its shares under its share buyback scheme between 14 and 18 February 2022. It made the purchases both through the ATHEX and the Euronext Brussels exchange.

Nigeria: Dangote Cement announced on 26 January 2022 that it bought 126.75 million of its own shares in the week to 21 January 2022, the second tranche of a buyback programme set to return cash to shareholders. The producer, majority-owned by Africa's richest man Aliko Dangote, aims to buy back up to 10% of its US$41m share capital in tranches. The company now has 16.87 billion shares outstanding.

Germany: HeidelbergCement plans to proceed with its on-going share buyback programme in early 2022 with a second tranche of purchases worth Euro300 – 350m. The group expects to conclude the tranche in mid-2022. It previously finished buying back 2.7% of its shares in December 2021. On 13 January 2021, HeidelbergCement announced that it had retired all shares purchased under this previous tranche.

Nigeria: Dangote Cement plans to buy back 1% of its issued shares under its on-going share buyback programme. The Business Post newspaper has reported that the group launched the first tranche of the programme in 2020. At that time, it bought back 0.2% of its shares. Dangote Cement will make the currently planned purchase when the second tranche commences on 19 January 2022.

Bangladesh: UAE-based Ras Al Khaimah Cement is considering the acquisition of Chimera Investments’ and IHC Holding Company’s stakes in manufacturing and export holding company Apex Holding. Reuters news has reported that the board of Ras Al Khaimah Cement has yet to approve any agreement.

Ireland: CRH says that it completed a further phase of its share buyback programme in late December 2021 with the acquisition of shares worth US$300m. The figure brings the company’s total investment in its on-going share buyback programme to US$2.9bn since it started in mid-2018. CRH has now launched the next phase of the programme, to continue until March 2022, during which time it plans to acquire a further US$300m-worth of its shares. France-based financier Societe Generale will act as principal for the repurchases on the Euronext Dublin exchange.

Iran: Ghadir Investment Cement Holding launched its initial public offering (IPO) on 11 December 2021. The Financial Tribune newspaper has reported that the company will seek to sell 5% of its shares. It expects to generate around US$8m from the IPO.

China: Xinjiang Tianshan Cement plans to launch an issuance of bonds. Reuters has reported the value of the issuance as US$2.36bn.

Finland: Betolar has announced the commencement of trading in its shares on the Nasdaq Helsinki exchange. Betolar launched its Geoprime alkali-activated slag and fly ash-based concrete additive in September 2021.

Tero Ojanperä, chair of Betolar’s board of directors, said “The company has so far been developed with a strong ownership with the aim of creating a significant position for Betolar in the global cement market. The share issue expands our shareholder base and provides a significant capital injection to accelerate Betolar's internationalisation.” He continued “The oversubscription of the share issue signals the market's strong belief that effective market-based solutions to the climate crisis can be found. We thank all the retail and institutional investors who participated in the share issue for their trust."

CEO Matti Löppönen added “The outstandingly successful share issue provides Betolar’s executive management with a supportive mandate to start promoting the green transition in various industries globally. At the same time, it also obliges us to steer the company in line with our strategy, in which trust is constantly strengthening among shareholders and customers, as well as society decision-makers.” He concluded “The Betolar team is strongly committed to taking the growth company to the next level.”