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1101 - Taiwan Cement News Story

TWD49.2 -0.4  -0.8%

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Basic Materials
Large Cap
Market Cap £7.39bn
Enterprise Value £9.30bn
Revenue £2.90bn
Position in Universe 214th / 6100

BRIEF-Taiwan Cement plans privatization of TCC International Holdings via Scheme of Arrangement with unit

Fri 21st April, 2017 4:27pm
April 21 (Reuters) - Taiwan Cement Corp  1101.TW  : 
    * Says the company plans to fully acquire TCC International 
Holdings Ltd  1136.HK  (TCCIH), jointly with co's unit TCC 
International Limited (TCCI) 
    * Says the company plans to issue up to about 7.7 million 
new shares to be used for privatization of TCCIH 
    * Co's unit TCCI is holding 63.05 percent stake of shares  
and 494.3 million shares of convertible preferred stock in TCCIH 
    * Co plans to offer price of HK$3.6 per share or 0.42 share 
of co's stock in exchange for one share of common stock of 
TCCIH, and HK$3.93 per share or 0.46 share of co's stock in 
exchange for one share of convertible preferred stock of TCCIH 
    * Says if the privatization success, TCCIH will be delisted 
from HKEX and become wholly owned unit of co  
    Source text in Chinese: https://goo.gl/aVWDKy 
    Further company coverage: 1101.TW  1136.HK  
 (Beijing Headline News) 
 ((Beijing.HeadlineNews@thomsonreuters.com; +86 62674724; 
Reuters Messaging: Cheng.Li@thomsonreuters.com@reuters.net))
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