CEMEX
en
  • ES
About Us
  • Our History
    • ETHOS Line
  • Our COVID-19 Actions
  • Company Profile
  • Management Team
  • Ethics & Compliance
    • Ethics
    • Corporate Governance
    • Antitrust
    • Anti-Corruption
    • Information Retention
    • Insider Trading
    • Conflict Minerals
    • Anti-Money Laundering
    • Third Parties
  • Position Papers
CEMEX Go
  • Open CEMEX Go
  • Learning Hub
    • Preparing to Buy
    • User Management
    • Customer Information
    • Commercial Conditions
    • Order & Product Catalogue
    • Delivery Schedule
    • CEMEX Track
    • Invoices
    • Payments
  • Developer Center
  • Suggestions
  • FAQs
Investors
  • Reports
    • Reports
    • Reports Archive
    • SEC Filings
    • Financial Reports Excel
    • BMV Reports
    • Email Alerts
    • Relevant Events
  • Financial Highlights
    • Faqs
    • Glossary
  • Stock Information
    • Stock Chart
    • Dividends
    • Capitalization Program
    • Direct Stock Purchase Plan
    • Equity Analysts
    • Corporate Action Announcement
  • Debt Information
    • Corporate Structure
    • Maturity Profile
    • Credit Ratings
    • Debt Instruments
    • Perpetual Debentures
    • Fixed Income Analysts
  • Corporate Governance
    • Board of Directors
    • Management Team
    • Committees
    • Code of Ethics
    • By-laws
    • Sarbanes-Oxley Act
    • CEMEX and the NYSE
  • Events
    • All Events
Products & Services
  • Products
    • Cement
    • Aggregates
    • neogem
    • Ready-Mix Concrete
    • Related Products
  • Building Solutions
    • Buildings
    • Pavements
    • Green Building Services
  • Global Solutions
    • Engineering and Projects
    • Plant Optimization
    • Customized Services
    • Operation & Maintenance
    • Expertise Network
    • Camp
  • Services
  • Trading
  • Global Contacts
Careers
  • Life @ CEMEX
  • Locations & Functions
  • CEMEX Opportunities
    • Students + Graduates
    • Experienced Professionals
    • Join Us
  • Why CEMEX?
    • A meaningful challenge
    • Innovation
    • Performance and Values Driven
    • Diversity
Sustainability
  • Strategy
    • Sustainability Committee
    • Materiality Analysis
    • Our 2030 Ambitions
    • Risk Management
  • Model
    • Overview
    • Resilient and Efficient Building Solutions
    • High-Impact Social Strategy
    • Environmental Excellence for Responsible Growth
    • Core Values Into Every Action
  • Stakeholder Engagement
    • Our People
    • Our Neighbors
    • Our Business Partners
    • Our World
    • Global Partnerships
    • Local Partnerships
    • Public Policy
    • Internal Stakeholder Database
  • Policies & Positions
    • Policies
    • Position Papers
  • Reports
    • Global Reports
    • Country Reports
    • External Advisory Panel
  • Social Impact
    • Social Impact Strategy
    • Community Investment Pillars
    • Social Impact Practices
    • Partnerships & Recognitions
    • CEMEX UNITE Volunteering
    • Our People & Communities
    • CEMEX-Tecnológico de Monterrey Center
    • Inclusive Business Models
    • Our Stories
  • Climate Action
    • Our Performance and Targets
    • Vertua Net-Zero CO2 Concrete
    • Technologies Targeting Climate Change
    • New Types of Clinker & Clinker Substitutes
    • Alternative Fuels
    • Renewable Energy
    • Carbon Capture, Use and Storage
    • Natural Carbon Sinks
    • Reporting & Disclosure
Suppliers
  • Sourcing Approach
    • Global Categories
    • Local Categories
    • Smart Innovation
    • Supplier of the Year
  • Responsible Suppliers
    • Code of Conduct when doing business with us
    • H&S Program for our contractors
    • Sustainability Program
    • Anti-Corruption
    • Anti-Money Laundering
    • Code of Ethics
    • Policies in other languages
  • Become a Supplier
    • Selection Process
  • Direct Line
    • Complaints
    • Contact Us
Media
  • Press Releases
    • Press Releases 2021
    • Press Releases 2020
    • Press Releases 2019
    • Press Releases 2018
    • Press Releases 2017
    • Press Releases 2016
    • Press Releases 2015
    • Press Releases 2014
  • Building Award
    • The Award
    • Winners
    • Jury
    • Book
    • "Lorenzo H. Zambrano" Prize
  • Social Media
About Us
  • Our History
  • Our COVID-19 Actions
  • Company Profile
  • Management Team
  • Ethics & Compliance
  • Position Papers
CEMEX Go
  • Open CEMEX Go
  • Learning Hub
  • Developer Center
  • Suggestions
  • FAQs
Investors
  • Reports
  • Financial Highlights
  • Stock Information
  • Debt Information
  • Corporate Governance
  • Events
Products & Services
  • Products
  • Building Solutions
  • Global Solutions
  • Services
  • Trading
  • Global Contacts
Careers
  • Life @ CEMEX
  • Locations & Functions
  • CEMEX Opportunities
  • Why CEMEX?
Sustainability
  • Strategy
  • Model
  • Stakeholder Engagement
  • Policies & Positions
  • Reports
  • Social Impact
  • Climate Action
Suppliers
  • Sourcing Approach
  • Responsible Suppliers
  • Become a Supplier
  • Direct Line
Media
  • Press Releases
  • Building Award
  • Social Media

About Us - Press Release - CEMEX announces non-dilutive equity offering

Press Releases

Press Releases 2003

Press Releases 2021
Press Releases 2020
Press Releases 2019
Press Releases 2018
Press Releases 2017
Press Releases 2016
Press Releases 2015
Press Releases 2014
Press Releases 2013
Press Releases 2012
Press Releases 2011
Press Releases 2010
Press Releases 2009
Press Releases 2008
Press Releases 2007
Press Releases 2006
Press Releases 2005
Press Releases 2004
Press Releases 2003
Press Releases 2002
Press Releases 2001
Press Releases 2000
Press Releases 1999
Press Releases 1998
Press Releases 1997
Press Releases 1996
Press Releases 2003
angle-left About Us - Press Release - CEMEX announces non-dilutive equity offering

publishDate1 Wed, 01 Oct 2003 17:55:00 +0000

publishDate2 Oct 1, 2003 5:55:00 PM

publishDate3 October 1, 2003

  • Media
  • Press Releases
  • Press Releases
CEMEX announces non-dilutive equity offering

October 1, 2003


CEMEX, S.A. de C.V. (NYSE: CX) announced today that it and certain selling ADS holders intend, subject to market and other conditions, to commence a public offering of 25.5 million of its American Depositary Shares plus up to an additional 15% of that amount to cover over allotments. This transaction will not increase the number of shares outstanding and thus will not dilute existing shareholders. Citigroup Global Markets Inc. will act as global coordinator for the offering.

The ADSs are being offered in connection with the unwinding of several forward contracts entered into between certain banks, including the selling ADS holders, and CEMEX. The selling ADS holders will receive the proceeds of the ADSs being sold by them in the offering, and have agreed to apply such proceeds against amounts CEMEX is obligated to pay under their forward contracts. The selling ADS holders have also agreed to remit to CEMEX any proceeds they receive from the offering in excess of the amount necessary to satisfy CEMEX's obligations under these forward contracts. As of September 30, 2003, the aggregate amount payable by CEMEX to the selling ADS holders under their forward contracts was approximately U.S.$450 million. The proceeds of the sales of the ADSs being offered by CEMEX will be applied against amounts CEMEX is obligated to pay under other forward contracts, with any excess due to CEMEX.

Subject to market conditions, CEMEX intends to use a portion of the net proceeds available to it to conduct a cash tender offer for all or a portion of its outstanding appreciation warrants, including appreciation warrants represented by American Depositary Warrants (NYSE: CX.WSB). However, CEMEX is under no obligation to proceed with the appreciation warrant tender offer.

CEMEX intends to use the remaining portion of the net proceeds available to it from the offering for general corporate purposes, including the repayment of debt.

Rodrigo Treviño, Chief Financial Officer, said: "This non-dilutive equity offering is in line with our objectives and stated financial strategy. We believe this is an important step and one of several that we have taken during the course of the year to simplify our capital structure."

Shelf Registration Statements relating to these securities have been filed with the Securities and Exchange Commission and are effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

The offering is made solely by prospectus. Copies of the prospectus supplement and prospectus, when available, may be obtained from the Prospectus department of Citigroup Global Markets Inc. at the following address:

Brooklyn Army Terminal
140 58th Street
Brooklyn, NY 11220
Tel: (718) 765-6732
Fax: (718) 765-6734

CEMEX is a leading global producer and marketer of cement and ready mix products, with operations primarily concentrated in the world's most dynamic cement markets across four continents. CEMEX combines a deep knowledge of the local markets with its global network and information technology systems to provide world class products and services to its customers, from individual homebuilders to large industrial contractors. For more information, visit www.cemex.com.

This press release contains forward looking statements and information that are necessarily subject to risks, uncertainties and assumptions. The proposed ADS offering and cash tender offer for the appreciation warrants are dependent upon market conditions, which are subject to change. In addition, many factors could cause the actual results, performance or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.

Contact Information

Media Relations
Jorge Pérez
+52 (81) 8888 4334

Investor Relations
Abraham Rodríguez
+52 (81) 8888 4262

Analyst Relations
José Antonio González
(212) 317-6008

*
share-alt
  • Twitter
  • Facebook
  • Google+
  • Legal
  • Site Map
  • Careers
  • Privacy
  • © 2021 CEMEX S.A.B. de C.V.
This website uses cookies to deliver you a better experience. Using this website means you are okay with this. Please check our Privacy Statement for additional details. I understand.