+
Asia Cement China owner proposes $647M deal to privatise company
ECONOMY & POLICY

Asia Cement China owner proposes $647M deal to privatise company

Construction suppliers are still struggling with China's property industry, which is severely affected by the crisis. As a result, the majority owner of Asia Cement (China) Holdings Corp. has proposed to take the cement producer private, valuing it at $646.66 million, according to the businesses. As part of the deal, the Hong Kong-based company's most recent closing on May 28 is being discounted by 3% to HK$3.22 for each Asia Cement China share that Taiwan-listed Asia Cement Corp. does not currently hold. After Asia Cement China's shares increased by as much as 47% their largest intraday increase since November 2008?trading in the company's shares was halted in Hong Kong on May 28 in anticipation of an announcement on takeovers and mergers.

Additionally, on May 27, shares increased by 14%, bringing the company's market capitalization to $666 million. However, this is still far less than its high of $2.8 billion set in July 2019. The Hong Kong-listed company has requested permission from the stock market to start trading again on Thursday. Currently holding 67.73% of the Hong Kong-listed company, Asia Cement Corp. reported a first-quarter loss of around $17.9 million in April. China is struggling with a heavily indebted real estate market, which has impacted domestic construction suppliers and compelled Beijing to declare stimulus plans in an attempt to halt the housing sector's downturn.

Asia Cement China's top and bottom lines have declined in recent years as a result of a number of issues, including the COVID-19 outbreak, the housing market crisis, increased borrowing costs, and intense competition. Listed in Taiwan The shipping-to-telecom giant Far Eastern New Century Corp. is the owner of Asia Cement Corp. 

Construction suppliers are still struggling with China's property industry, which is severely affected by the crisis. As a result, the majority owner of Asia Cement (China) Holdings Corp. has proposed to take the cement producer private, valuing it at $646.66 million, according to the businesses. As part of the deal, the Hong Kong-based company's most recent closing on May 28 is being discounted by 3% to HK$3.22 for each Asia Cement China share that Taiwan-listed Asia Cement Corp. does not currently hold. After Asia Cement China's shares increased by as much as 47% their largest intraday increase since November 2008?trading in the company's shares was halted in Hong Kong on May 28 in anticipation of an announcement on takeovers and mergers.Additionally, on May 27, shares increased by 14%, bringing the company's market capitalization to $666 million. However, this is still far less than its high of $2.8 billion set in July 2019. The Hong Kong-listed company has requested permission from the stock market to start trading again on Thursday. Currently holding 67.73% of the Hong Kong-listed company, Asia Cement Corp. reported a first-quarter loss of around $17.9 million in April. China is struggling with a heavily indebted real estate market, which has impacted domestic construction suppliers and compelled Beijing to declare stimulus plans in an attempt to halt the housing sector's downturn.Asia Cement China's top and bottom lines have declined in recent years as a result of a number of issues, including the COVID-19 outbreak, the housing market crisis, increased borrowing costs, and intense competition. Listed in Taiwan The shipping-to-telecom giant Far Eastern New Century Corp. is the owner of Asia Cement Corp. 

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?