Reuters logo
BUZZ-Loma Negra Cia Industrial Argentina: Up in debut
November 1, 2017 / 3:08 PM / in 23 days

BUZZ-Loma Negra Cia Industrial Argentina: Up in debut

** Argentina’s largest cement producer rises as much as 14.2 pct in debut

** Market valuation $12.93 billion based on 596 million shares outstanding

** Opens at $21.65 vs IPO price of $19; raises about $954 million

** 50.2 million American depositary shares sold at top of the proposed range of $15 to $19/ADS (bit.ly/2z4C3Be)

** One ADS represents 5 common shares listed on the local exchange, company says

** Most of the proceeds will go to Intercement Brasil SA, Brazil’s second-largest cement producer, which owns 99 percent of Loma Negra (Reporting By Aparajita Saxena in Bengaluru)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below