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Displaying items by tag: Shares
Grupo Argos enlarges shareholding in Cementos Argos
18 November 2022Colombia: Grupo Argos announced its purchase of US$2.49m-worth of shares in Cementos Argos. The purchase accounts for 0.3% of the subsidiary's share capital. At the start of 2022, Grupo Argos held a 59% majority stake in the cement producer. The next biggest single shareholders were investment services company AFP y Cesantías Protección, with 8%, and pension fund management company SAFP Porvenir, with 6.3%.
Borneo Oil to enlarge Makin Teguh stake to 60%
31 October 2022Malaysia: Borneo Oil has entered into a conditional share sale agreement with Makin Teguh's 45% owner Global 2332 to enlarge its stake in the cement company by 31%, to 60%. Borneo Oil has proposed a private placement to raise US$11.3m towards funding the US$21.2m deal. It previously completed a US$4.65m shares issue on 26 October 2022. Bernama Daily Malaysian News has reported that Makin Teguh plans to commence operations at its 220,000t/yr Sabah integrated cement and clinker plant in early 2023. It owns two limestone mines, with total reserves of 14.4Mt.
Lucky Cement buys back more shares
18 October 2022Pakistan: Lucky Cement bought back more of its own shares on 17 October 2022. The total value of the purchase was US$408,000.
Lucky Cement previously bought back US$212,000-worth of shares earlier in October 2022, under the same resolution of it board from 20 September 2022.
Lucky Cement buys back US$212,000-worth of shares
13 October 2022Pakistan: Lucky Cement has informed the Pakistan Stock Exchange of its purchase of US$212,000-worth of its shares. The producer's board of directors passed a resolution for the buyback on 20 September 2022.
San Miguel Equity Investments acquires 89% Eagle Cement stake
07 October 2022Philippines: The board of directors of Eagle Cement has acknowledged the acquisition of 89% of the producer's issued shares by San Miguel Equity Investments (SMEI). SMEI has conducted a mandatory tender offer for the remainder of Eagle Cement's shares. The board adopted three resolutions, namely to extend its cooperation to SMEI, to voluntarily delist its shares on the Philippine Stock Exchange (subject to SMEI's acquisition of more than 90% of shares) and to hold a special meeting of its shareholders.
Lucky Cement to buy back up to 3.1% of shares
22 September 2022Pakistan: Lucky Cement has informed investors that it plans to buy back shares up to an equivalent of 3.1% of its registered share capital, which it has valued at US$417,000. The company will commence the purchase from 29 September 2022, and continue until its completion or 27 March 2023.
Hsing Ta Cement’s capital declines
16 September 2022Taiwan: Hsing Ta Cement has reduced its paid-in capital by 0.2% to US$108.9m from US$109.1m. The reduction is the result of the company’s cancellation of treasury shares.
Sadiq Ahmed Sadiq El Sewedy increases Arabian Cement stake to 11%
13 September 2022Egypt: Private investor Sadiq Ahmed Sadiq El Sewedy has enlarged their stake in Arabian Cement to 11% from 9.5%. The investor paid US$1.6m for the additional shares. Al Ahly Pharos and EFG Hermes Holding provided brokerage services for the deal.
Arabian Cement recorded a profit of US$6.17m in the first half of 2022, compared to a US$1.2m loss in the first half of 2021.
Cyprus Cement reduces issued share capital
13 September 2022Cyprus: Cyprus Cement has informed the Cyprus Stock Exchange that it has reduced its issued share capital by 14% to Euro50.9m from Euro59.2m. The company will return Euro8.26m in cash to investors.
Adani Group to enlarge ACC and Ambuja Cements stakes
12 September 2022India: ACC and Ambuja Cements shareholders tendered some of their shares under a US$3.8bn open offer by Adani Group for a further 26% stake in each company. The offer closed on 9 September 2022, and the group secured ownership of a further 2.2% stake in ACC and a further 0.4% stake in Ambuja Cements.
Adani Group agreed to acquire Switzerland-based Holcim’s 50% ACC stake and 63% Ambuja Cements stake for US$10.5bn in May 2022.