Reported 4 months ago
The majority owner of Asia Cement China Holdings Corp. is reportedly considering a take-private deal for the Hong Kong-listed company, as its shares surged following the news. The company, controlled by Taiwan's Asia Cement Corp., saw its shares suspended after a 47% jump, despite being down 6% over the past year due to China's real estate crisis. Deliberations are ongoing, with Asia Cement Corp. declining to comment on the matter. Asia Cement China warned of a first-quarter loss and revenue decline in 2023, with its chairman also leading Far Eastern New Century Corp., which has assets of about $105 billion.
Source: YAHOO