Republic Cement set to exit PSE
REPUBLIC CEMENT & Building Materials, Inc. (RCBM) obtained the approval of the Philippine Stock Exchange (PSE) to exit the local bourse after a takeover by a company owned by Aboitiz Equity Ventures, Inc. (AEV) and Irish building materials company CRH Plc.
RCBM received a letter from the PSE last Friday notifying the company that the exchange’s board of directors cleared on April 13 its petition for voluntary delisting and ordered that the shares be delisted from the official registry effective April 25, subject to the payment of certain fees, the cement maker told the stock exchange on Monday.
RCBM had originally targeted to withdraw from the local bourse on March 15.
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