CEMEX
en
  • ES
About Us
  • Our History
    • ETHOS Line
  • Our COVID-19 Actions
  • Company Profile
  • Management Team
  • Ethics & Compliance
    • Ethics
    • Corporate Governance
    • Antitrust
    • Anti-Corruption
    • Information Retention
    • Insider Trading
    • Conflict Minerals
    • Anti-Money Laundering
    • Third Parties
  • Position Papers
CEMEX Go
  • Open CEMEX Go
  • Learning Hub
    • Preparing to Buy
    • User Management
    • Customer Information
    • Commercial Conditions
    • Order & Product Catalogue
    • Delivery Schedule
    • CEMEX Track
    • Invoices
    • Payments
  • Developer Center
  • Suggestions
  • FAQs
Investors
  • Reports
    • Reports
    • Reports Archive
    • SEC Filings
    • Financial Reports Excel
    • BMV Reports
    • Email Alerts
    • Investor Presentation
  • Financial Highlights
    • Faqs
    • Glossary
  • Stock Information
    • Stock Chart
    • Dividends
    • Capitalization Program
    • Direct Stock Purchase Plan
    • Equity Analysts
    • Corporate Action Announcement
  • Contact us
  • Debt Information
    • Corporate Structure
    • Maturity Profile
    • Credit Ratings
    • Debt Instruments
    • Subordinated Notes
    • Fixed Income Analysts
    • Sustainable Finance
  • Corporate Governance
    • Board of Directors
    • Management Team
    • Committees
    • Code of Ethics
    • By-laws
    • Sarbanes-Oxley Act
    • CEMEX and the NYSE
  • Events
    • All Events
    • Events 2022
    • Events 2023
Careers
Products & Services
  • Products
    • Cement
    • Aggregates
    • neogem
    • Ready-Mix Concrete
    • Related Products
  • Building Solutions
    • Buildings
    • Pavements
    • Green Building Services
  • Services
  • Trading
  • Urbanization Solutions
  • Global Contacts
  • Regenera
  • Vertua
    • Projects
Sustainability
  • Sustainability at CEMEX
    • Governance
    • Our Model
    • Net Value for Society
    • Stakeholder Engagement
    • Contribution to United Nations' SDGs
  • Social Impact
    • Social Impact Strategy
    • CEMEX UNITE Volunteering
    • People & Communities
    • Health & Safety
    • Practices & Stories
  • ESG Reporting Center
    • Material Priorities
    • Our 2030 Targets
    • Disclosure & Performance
    • Global Reports
    • Policies & Positions
  • Environmental Excellence
    • Air Quality
    • Water Optimization
    • Biodiversity Conservation
    • Circular Economy
  • Overview
  • Future in Action
    • Committed to Net-Zero CO2
    • Future in Action Targets
    • Future in Action Pillars
Suppliers
  • Sourcing Approach
    • Global Categories
    • Local Categories
    • Smart Innovation
    • Supplier of the Year
  • Responsible Suppliers
    • Code of Conduct when doing business with us
    • H&S Program for our contractors
    • Sustainability Program
    • Anti-Corruption
    • Anti-Money Laundering
    • Code of Ethics
    • Policies in other languages
  • Become a Supplier
    • Selection Process
  • Direct Line
    • Complaints
    • Contact Us
Media
  • Press Releases
    • Press Releases 2023
    • Press Releases 2022
    • Press Releases 2021
    • Press Releases 2020
    • Press Releases 2019
    • Press Releases 2018
    • Press Releases 2017
    • Press Releases 2016
  • Building Award
    • The Award
    • Winners
    • Jury
    • Book
    • "Lorenzo H. Zambrano" Prize
  • Social Media
  • Digital Innovation in Motion
About Us
  • Our History
  • Our COVID-19 Actions
  • Company Profile
  • Management Team
  • Ethics & Compliance
  • Position Papers
CEMEX Go
  • Open CEMEX Go
  • Learning Hub
  • Developer Center
  • Suggestions
  • FAQs
Investors
  • Reports
  • Financial Highlights
  • Stock Information
  • Contact us
  • Debt Information
  • Corporate Governance
  • Events
Careers
  • Overview
Products & Services
  • Products
  • Building Solutions
  • Services
  • Trading
  • Urbanization Solutions
  • Global Contacts
  • Regenera
  • Vertua
Sustainability
  • Sustainability at CEMEX
  • Social Impact
  • ESG Reporting Center
  • Environmental Excellence
  • Overview
  • Future in Action
Suppliers
  • Sourcing Approach
  • Responsible Suppliers
  • Become a Supplier
  • Direct Line
Media
  • Press Releases
  • Building Award
  • Social Media
  • Digital Innovation in Motion

About Us - Press Release - CEMEX announces pricing of the sale of a minority stake in the capital stock of its subsidiary in the Philippines

Press Releases

Press Releases 2016

Press Releases 2023
Press Releases 2022
Press Releases 2021
Press Releases 2020
Press Releases 2019
Press Releases 2018
Press Releases 2017
Press Releases 2016
Press Releases 2015
Press Releases 2014
Press Releases 2013
Press Releases 2012
Press Releases 2011
Press Releases 2010
Press Releases 2009
Press Releases 2008
Press Releases 2007
Press Releases 2006
Press Releases 2005
Press Releases 2004
Press Releases 2003
Press Releases 2002
Press Releases 2001
Press Releases 2000
Press Releases 1999
Press Releases 1998
Press Releases 1997
Press Releases 1996
Press Releases 2016
About Us - Press Release - CEMEX announces pricing of the sale of a minority stake in the capital stock of its subsidiary in the Philippines

publishDate1 Wed, 29 Jun 2016 22:25:00 +0000

publishDate2 Jun 29, 2016 10:25:00 PM

publishDate3 June 29, 2016

  • Media
  • Press Releases
  • Press Releases
CEMEX announces pricing of the sale of a minority stake in the capital stock of its subsidiary in the Philippines

June 29, 2016

  • Further approvals still pending

CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX), announced today that CEMEX Holdings Philippines, Inc. (“CHP”), an indirectly wholly-owned subsidiary of CEMEX España, S.A. ("CEMEX España), priced on June 30, 2016 in Asia its initial public offering of 2,032,980,830 common shares (the "Offering") at a price of ₱10.75 Philippine Pesos per common share (the "Offer Price"). The common shares offered by CHP include 2,032,980,830 new common shares offered in a public offering to investors in the Philippines and in a concurrent private placement to eligible investors outside of the Philippines. CHP has also granted the underwriters an option to procure subscribers for or themselves subscribe for up to an additional 304,947,124 common shares at the Offer Price (the “Additional Shares”), which option is exercisable at any time up to and including the day prior to the date the common shares are initially listed and commence trading (the "Listing Date") on the Philippine Stock Exchange (the "PSE"). CEMEX Asian South East Corporation (“CASE”), which is an indirect wholly-owned subsidiary of CEMEX España and CHP's principal shareholder, has undertaken to purchase up to 304,947,124 common shares from the underwriters at the Offer Price at any time from and after the Listing Date until the date that is 30 days following the Listing Date (the "Undertaking to Purchase"). After giving effect to the Offering, CASE would directly own approximately 55.0% of CHP's outstanding common shares (assuming the Undertaking to Purchase is not utilized).

CHP's common shares have been approved for listing on the PSE under the ticker "CHP". The closing of the Offering is expected to occur on July 18, 2016, subject to the satisfaction of customary closing conditions.

The net proceeds to CHP from the Offering are estimated to be approximately $506.8 million after deducting estimated underwriting discounts and commissions, and other estimated offering expenses payable by CHP (assuming the Additional Shares are purchased by the underwriters or subscribers procured by them and based on the exchange rate of 46.932 Philippine Pesos per U.S. dollar published on June 29, 2016 by the Philippine Dealing & Exchange Corp). CHP expects to use the net proceeds to repay existing indebtedness owed to BDO Unibank, Inc. and to one or more indirect subsidiaries of CEMEX. In turn, CEMEX expects to apply its net proceeds to general corporate purposes, including the repayment of existing indebtedness.

This transaction is important in the context of CEMEX’s previously announced asset divestiture plan.

This press release does not constitute or form part of an offer to sell or solicitation of an offer to purchase or subscribe for securities in the United States or in any other jurisdiction. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States or in any other jurisdiction absent registration or an applicable exemption from the registration requirements of the Securities Act or from the registration requirements in any such other jurisdiction.

THERE WILL NOT BE A REGISTRATION WITH THE NATIONAL SECURITIES REGISTRY (REGISTRO NACIONAL DE VALORES) MAINTAINED BY THE MEXICAN NATIONAL BANKING AND SECURITIES COMMISSION (COMISIÓN NACIONAL BANCARIA Y DE VALORES, OR CNBV), AND NO PUBLIC OFFERING OR BROKERAGE ACTIVITIES MAY BE CONDUCTED IN MEXICO, EXCEPT PURSUANT TO A PRIVATE PLACEMENT EXEMPTION SET FORTH UNDER ARTICLE 8 OF THE MEXICAN SECURITIES MARKET LAW (LEY DEL MERCADO DE VALORES), TO MEXICAN INSTITUTIONAL AND QUALIFIED INVESTORS.

A REGISTRATION STATEMENT RELATING TO CHP’S COMMON SHARES HAS BEEN FILED WITH THE PHILIPPINE SEC, BUT HAS NOT YET BECOME EFFECTIVE. THESE SECURITIES MAY NOT BE SOLD NOR OFFERS TO BUY THEM BE ACCEPTED PRIOR TO THE TIME THE REGISTRATION STATEMENT IS RENDERED EFFECTIVE. THIS COMMUNICATION SHALL NOT CONSTITUTE AN OFFER TO SELL OR BE CONSIDERED A SOLICITATION TO BUY.

The PSE will make no representation as to its completeness and expressly disclaims any liability whatsoever for any loss arising from reliance on the entire or any part of the Offering documents. The PSE approval for listing is permissive only and does not constitute a recommendation or endorsement of the offering by the PSE or the Philippine SEC.

 

###

This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the terms of the transaction described herein to change and any such changes could be significant. No assurance can be given that any such transaction will be consummated on the terms described herein or on other terms, or as to the ultimate terms of any such transaction. CEMEX assumes no obligation to update or correct the information contained in this press release.

CEMEX Contact Information

Media Relations
Jorge Pérez
+52 (81) 8888-4334
mr@cemex.com

Investor Relations
Eduardo Rendón
+52 (81) 8888-4256
ir@cemex.com

Analyst Relations
Lucy Rodriguez
+1(212) 317-6007
ir@cemex.com

*
  • Twitter
  • Facebook
  • Google+
  • Legal
  • Site Map
  • Careers
  • Privacy
  • © 2023 CEMEX S.A.B. de C.V.
This website uses cookies to deliver you a better experience. Using this website means you are okay with this. Please check our Privacy Statement for additional details. I understand.