Latest news with #HolcimLtd
Yahoo
7 hours ago
- Business
- Yahoo
Holcim North American Spinoff Amrize Slips in Trading Debut
(Bloomberg) -- Amrize Ltd's shares shares slipped in early trading in Switzerland following the North American cement-maker's spinoff from Holcim Ltd, as the building materials conglomerate looks to unlock value through a separate listing. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice One Architect's Quest to Save Mumbai's Heritage From Disappearing NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports Shares in the US cement-maker slipped as much as 8.4% to 42.2 Swiss francs ($51.66) apiece in early trading in Zurich, compared to the reference price of 46.08 Swiss francs stated in a notice from the Swiss stock exchange. The reference price gave Amrize a market capitalization of around 26.1 billion Swiss francs, according to Bloomberg calculations. Meanwhile, the remaining firm Holcim Ltd.'s shares rose, gaining as much as 15.3% to 54.9 Swiss francs from a reference price of 47.60 Swiss francs apiece. Shareholders in Holcim were given one Amrize share for each one they held in the parent company. Read: Can Holcim's US Spinoff Cement a Higher Valuation?: ECM Watch Amrize is the largest cement provider in the US and Canada as measured by sales and production volume, according to a letter to shareholders earlier this month. It has more than 1,000 sites and 19,000 employees across North America and in 2024 it generated $11.7 billion in revenue — a 13% compound annual growth rate from 2021, according to a statement on Monday. Vontobel analyst Mark Diethelm launched coverage of Amrize with a hold rating on Monday, saying the US construction market is challenging in the near-term and he expects near-term volatility in the share price. Jan Jenisch, who is both chief executive officer and chairman, said last year that his own valuation for Amrize's valuation was around $50 billion, although a lot has changed since then. Bloomberg Intelligence said Amrize could reach a valuation exceeding $36.2 billion. Jenisch wants to grow through mergers and acquisitions, particularly on the building solutions side of the business, which has higher multiples and gives a better return on invested capital. Amrize is the largest cement company in North America and the second-largest commercial roofing company in the region, according to an investor presentation. Amrize's shares will be listed in both Zurich and New York under the symbol AMRZ. Trading on the New York Stock Exchange is expected to start at its open on Monday. (Updates with market capitalization and additional Vontobel comments.) Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros The US Has More Copper Than China But No Way to Refine All of It Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P.
Bloomberg
9 hours ago
- Business
- Bloomberg
Holcim's North American Spinoff Amrize Slips in Trading Debut
Amrize Ltd 's shares shares slipped in early trading in Switzerland following the North American cement-maker's spinoff from Holcim Ltd, as the building materials conglomerate looks to unlock value through a separate listing. Shares in the US cement-maker slipped as much as 7.8% to 42.5 Swiss francs ($52.01) apiece in early trading in Zurich, compared to the reference price of 46.08 Swiss francs stated in a notice from the Swiss stock exchange. Meanwhile, the remaining firm Holcim Ltd.'s shares rose, gaining as much as 12.6% to 53.6 Swiss francs from a reference price of 47.60 Swiss francs apiece.
Bloomberg
28-02-2025
- Business
- Bloomberg
Holcim Projects Rising Profit, Reveals Financials for US Spinoff
Holcim Ltd. expects to grow sales and profitability this year as the cement maker took a key step to spin off its North American division by the end of the first half. The manufacturer published financial figures for the Amrize spinoff for the first time, saying it generated $11.7 billion in revenue and an adjusted operating earnings margin of 27% last year.
