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Malayan Cement Berhad’s 85 Million Share Placement Oversubscribed
14 June 2021
Kuala Lumpur, 14 June 2021 — Today, Malayan Cement Berhad successfully completed its private placement of 85 million new shares with an oversubscription of 1.13x. The placement price was fixed at RM2.79 per Malayan Cement share, reflecting a discount of 9.92% on the 5-day volume weighted average price of RM3.0971 per share.
Managing Director of Malayan Cement, Dato’ Sri Michael Yeoh, said, “We are delighted that the offering has been met with strong support from investors, given the prevailing volatility of the local market. The success of this placement attests to the appreciation for the fundamental values that underline Malayan Cement’s business”.
The new shares were listed on the Main Market of Bursa Malaysia Securities Berhad today.
As announced on 12 May 2021, Malayan Cement embarked on the acquisition of 12 companies with established track records of operational profit to further enhance its cement and ready-mixed concrete business. The RM5.2 billion transaction is currently pending completion, subject to the receipt of the necessary approvals.
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YTL Cement is Malaysia’s pioneer and largest building materials group. With a network of cement plants, terminals, ready-mixed concrete batching facilities, drymix operations, and aggregate quarries, YTL Cement is recognised as a partner in nation building. Over its 70-year legacy, the Group has contributed to the construction of residential, commercial, and infrastructural projects throughout Malaysia, including the Petronas Twin Towers, Merdeka 118, SMART Tunnel, and the nation’s iconic airports and bridges.
Extending its presence beyond domestic borders, YTL Cement now has operations in Southeast Asia, meeting the building material needs of neighbouring nations.
Recently, the Group launched its ECO Product Range, providing a diverse selection of low-carbon alternatives to conventional offerings. This eco-friendly range includes ECOCem, a selection of low-carbon cements; ECO Concrete, offering concrete with significantly reduced embodied carbon; ECOSand, a perfect substitute for natural sand; and ECODrymix, an eco-friendly pre-mix range. This initiative is part of its commitment to support the industry’s transition to sustainable construction.
Extending its presence beyond domestic borders, YTL Cement now has operations in Southeast Asia, meeting the building material needs of neighbouring nations.
Recently, the Group launched its ECO Product Range, providing a diverse selection of low-carbon alternatives to conventional offerings. This eco-friendly range includes ECOCem, a selection of low-carbon cements; ECO Concrete, offering concrete with significantly reduced embodied carbon; ECOSand, a perfect substitute for natural sand; and ECODrymix, an eco-friendly pre-mix range. This initiative is part of its commitment to support the industry’s transition to sustainable construction.
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