Cemex submits takeover bid for 1.6 billion shares

CEMEX Holdings Philippines Inc. (CHP) mum or dad firm, Cemex Asian South East Corp. (Casec), will make a proposal of 1.614 billion shares with an oversubscription choice.

The value has been set at P1.30 per share and the provide interval begins on February 16, 2023 and ends on March 16, 2023.

The shares are then crossed by way of a particular block sale on the Philippine Inventory Change.

“The tender provide will start throughout enterprise hours and start at 9:30 a.m. on February 16, 2023 and finish at 3:00 p.m. on March 16, 2023. The report on the outcomes of the tender provide and the acceptance of the supplied shares will probably be revealed on March 30, 2023. March 2023, whereas the crossing date and settlement date will probably be March 29, 2023 and March 30, 2023, respectively,” CHP stated. “Moreover, the bidder reserves the proper to increase the tender provide, which can be topic to the Securities and Change Fee.”

CHP stated the aim of the tender provide is to extend and consolidate Casec’s holdings in CHP and permit current shareholders to comprehend their investments at a premium to the present buying and selling worth of the excellent widespread shares.

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