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
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?