Friday 17 November
Powered by Ajaxy
Mar 5, 2017 @ 11:32

RSA to use IPO proceeds to fund P12.5B Cebu plant

 

Bilyonaryo Ramon S. Ang will be using some of the proceeds of the planned IPO of his cement company, Eagle Cement Corp. to build a P12.5 billion plant in Cebu.

Some of the proceeds from the planned P9.2 billion IPO funds will be used to partially finance the construction of a new plant in Cebu, with a capacity of two million metric ton.

The project, said Philippine Star, will include the construction of a manufacturing plant, a distribution center and marine terminals in Southern Luzon, Visayas and Mindanao regions.

The estimated project cost consists of procurement of the raw materials for the construction and services and the land cost of the properties where the plant will be built on.

“The completion of the Cebu cement plant will be financed through a combination of the net proceeds of the offer, debt funding and internally generated funds,” the Star quoted ECC’s registration statement to Securities and Exchange Commission (SEC) yesterday.

The company eyes completion of the plant by 2020, whose construction will commence by the last quarter of the year.

Tags: , , , , ,

Related Stories
Subic Bay International Terminal Corp. (SBITC), a unit of International Container Terminal Services Inc. (ICTSI),
Pacific Online Systems Corp. said its net income grew 26 percent to P407.94 million in
Peakpower Energy Inc. (PEI) is looking to add another 70 megawatts (MW) of peaking capacity
Philippine Electricity Market Corp. (PEMC) is asking the Energy Regulatory Commission (ERC) to approve its


 

Trending News

Recommended on sister sites

Copyright © 2017 Bilyonaryo - bilyonaryo.com.ph.