Spain's Inmocemento to make market debut valued at $2.1 bln

Fomento de Construcciones y Contratas SA

08/11/2024 08:13

Nov 8 (Reuters) - Inmocemento, the cement and real
estate company spun out of Spanish construction firm FCC
 FCC.MC , has said expects its shares to start trade on Nov. 12
at a market value of 1.93 billion euros ($2.1 billion).
    The company, which has 454.9 million shares, set a reference
share price of 4.25 euros for its listing, according to a late
Thursday filing to Spain's stock market regulator.
    FCC, a construction firm controlled by Mexican billionaire
Carlos Slim, said in October it had transferred to Inmocemento
most of the assets from two units - FCYC and Cementos Portland
Valderrivas - as well as FCC's cement plants and the stakes it
owns in real estate developer Realia  RLIA.MC  and Metrovacesa
 MVC.MC .
    All FCC shareholders received a number of shares in
Inmocemento proportional to their holdings in FCC. 
    Slim directly owns 11.9% of FCC and controls a further 77%
through investment vehicles Inversora Carso and Operadora
Inbursa.  
    ($1 = 0.9279 euros)

 (Reporting by Joao Manuel Mauricio in Gdansk; Editing by Edwina
Gibbs)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))