CEMEX begins trading on the New York Stock Exchange
September 15, 1999
CEMEX, S.A. de C.V. announced today that its new American Depositary Shares (ADS), representing five new CPOs (certificados de participacion ordinaria), began trading today on the New York Stock Exchange (NYSE) under the ticker symbol “CX.”
The listing on the NYSE follows the successful completion by CEMEX of an exchange offer of its common stock shares for new CPOs, together with a simultaneous three-for-one stock split. The new CPO will represent an interest in two new A shares and one new B share.
In a ceremony on the exchange floor, CEMEX Chairman and CEO Lorenzo Zambrano rang the opening bell to start the day´s trading. Zambrano said: "Listing on the NYSE is an important milestone in the continued global development of CEMEX. Similarly, it is a testimony of the maturity our company has reached, for it is an initiative that strengthens CEMEX´s commitment to increase its visibility, by making its shares a more liquid and accessible investment.”
Richard A. Grasso, NYSE Chairman and CEO, said: “We are privileged to welcome CEMEX, the world´s third largest cement company, to the NYSE. With its strong brand and shareholder base, CEMEX fits well with the NYSE family of companies. We welcome Mr. Zambrano and CEMEX to the Exchange and look forward to an on-going, mutually beneficial partnership.”
Founded in 1906, CEMEX is one of the three largest cement companies in the world with approximately 60 million metric tons of production capacity. Through operating subsidiaries positioned in three different continents, CEMEX is engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. In addition, the company is the world´s leading producer of white cement and the world´s largest trader of cement and clinker.