Inmocemento shares down 9.7% in market debut

Fomento de Construcciones y Contratas SA

12/11/2024 11:14

** Shares of Spanish cement and real estate company
Inmocemento  IMCO.MC  fall 9.7% at 3.84 euros per share in their
market debut 
    ** Inmocemento, spun out of Spanish construction firm FCC
 FCC.MC , had set a reference share price of 4.25 euros for its
listing, valuing the company at 1.93 billion euros ($2.05
billion)
    ** Mexican billionaire Carlos Slim directly owns 11.9% of
FCC and controls a further 77% through investment vehicles
Inversora Carso and Operadora Inbursa
    ** Shares of FCC fall 5.4%, on track for their worst day
since November 2021


($1 = 0.9417 euros)

 (Reporting by Joao Manuel Mauricio)
 ((JoaoManuel.VicenteMauricio@thomsonreuters.com))