Friday, July 19, 2024

Logo Central America Link

Cemex shares boosted by Central America sale

Thursday, August 23, 2012

Cemex shares climbed Wednesday, outperforming the broader Mexican stock market after the cement maker unveiled plans to sell a minority stake in Central and South American assets.

Cemex shares rose 4.2 percent, and had been up by more than 7 percent after the world’s third-largest cement maker said in a regulatory filing late Tuesday that its Latam Holdings unit is seeking to sell a minority stake in its Latin American assets through a listing on Colombia’s stock exchange.

Cemex’s US-listed shares closed up 3.8 percent at $8.15, posting their strongest performance in a month.

Source: MarketWatch