Barya lang natira sa IPO investors: CHP to follow RSA’s Eagle Cement lead, makes P2.1 billion tender offer for delisting

CEMEX

The local unit of Mexican cement giant is following the lead of ultra bilyonaryo Ramon S. Ang who recently privatized his Eagle Cement Corp.

In a disclosure, Cemex Holdings Philippines said it has made a tender offer to purchase 1.614 billion shares at P1.30 each.

The tender offer is set from February 16 to March 16.

CHP rocketed 18 percent to P1.02 yesterday. It has gained 67 percent since the start of the year making it the best performing stock so far this year.

The tender offer price is just 16 percent of CHP’s initial public offering price of P10.75 in 2016

In sharp contrast, Ang’s tender offer price of P22.02 for EAGLE is 47 percent higher than its IPO price in 2017.

As of end-2022, CHP had a total of 2.964 billion shares or 22 percent held by the public.

https://bilyonaryo.com/2023/01/25/barya-lang-natira-sa-ipo-investors-chp-to-follow-rsas-eagle-cement-lead-makes-p2-1-billion-tender-offer-for-delisting/business/