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Holderfin sets second tender offer of Holcim shares

HOLDERFIN B.V. will conduct a second tender of the remaining shares of Holcim Philippines, Inc. held by minority shareholders until Sept. 28 amid the latter’s voluntary delisting plan. 

In a stock exchange disclosure on Tuesday, Holcim Philippines said that it received the order from the Securities and Exchange Commission (SEC) that directed Holderfin to hold the second tender offer of the remaining Holcim Philippines shares. 

“The company (Holcim Philippines) was informed that Holderfin intends to conduct the second tranche on the same terms and conditions as the tender offer which opened on July 10 and ended on Aug. 30, or the first tranche,” Holcim Philippines said.

The SEC also ordered Holderfin to update the tender offer report to include the second tender offer, or to submit a certificate of no changes if there are no substantial changes in the contents of the report.

Holcim Philippines is in the process of voluntarily delisting from the Philippine Stock Exchange (PSE).

The PSE suspended the trading of Holcim shares when Holderfin B.V. bought 594.95 million common shares or 9.22% of the company’s outstanding capital stock from Sumitomo Osaka Cement Co., Ltd.

As a result, Holcim Philippines’ public float fell to 5.05%, below the minimum requirement for listed firms.

Holderfin conducted a tender offer for 325.58 million of Holcim Philippines’ issued and outstanding common shares at P5.33 apiece.

In the first six months, Holcim Philippines recorded a 26.3% jump in its attributable net income to P834.72 million from P661.05 million a year ago.   

The company’s gross revenues for the January to June period rose by 6% to P12.90 billion compared with P12.17 billion in the same period last year. — Revin Mikhael D. Ochave

Neil Banzuelo

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