Spain’s Inmocemento to make market debut valued at $2.1 billion, ET RealEstate
[ad_1]
Inmocemento, the cement and real estate company spun out of Spanish construction firm FCC , has said expects its shares to start trade on Nov. 12 at a market value of 1.93 billion euros ($2.1 billion).
The company, which has 454.9 million shares, set a reference share price of 4.25 euros for its listing, according to a late Thursday filing to Spain‘s stock market regulator.
FCC, a construction firm controlled by Mexican billionaire Carlos Slim, said in October it had transferred to Inmocemento most of the assets from two units – FCYC and Cementos Portland Valderrivas – as well as FCC’s cement plants and the stakes it owns in real estate developer Realia and Metrovacesa .
All FCC shareholders received a number of shares in Inmocemento proportional to their holdings in FCC.
Slim directly owns 11.9% of FCC and controls a further 77% through investment vehicles Inversora Carso and Operadora Inbursa.
[ad_2]
Source link
