Asia Cement (China) shareholders reject majority owner's take-private offer

Asia Cement

26/08/2024 13:07

Aug 26 (Reuters) - Asia Cement (China)'s  0743.HK 
shareholders have not approved the firm's proposed privatization
by its majority owner, the cement maker said on Monday. 
    Taiwan-listed Asia Cement Corp  1102.TW , which owns the
Hong Kong listed firm, had offered to take it private at a
HK$5.05 billion ($647.8 million) valuation at a time when
construction suppliers continue to grapple with China's
crisis-hit property sector. 
    

($1 = 7.7955 Hong Kong dollars)

 (Reporting by Sneha Kumar; Editing by Sonia Cheema)
 ((Sneha.Kumar@thomsonreuters.com;))