Eagle Cement eyes P9.2-b IPO in May

6 Mar

thestandard.com.ph 02 Mar, 2017

Eagle Cement Corp plans to raise up to P9.2 billion from an initial public offering in May 2017.  Net proceeds from the maiden share offering will be used to finance the construction of a P12.5-billion cement plant in Cebu. The proposed plant will have a capacity of 2 million metric tons. Construction is scheduled to start in the Q4 2017, in line with the completion target of 2020. It is building a third production line within its facility in Bulacan. The expansion, up for completion by 2018, will increase the company’s cement production capacity by 2 million MT.

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