About Us - Press Release - CEMEX announces pricing of non-dilutive equity offering
October 16, 2003
CEMEX, S.A. de C.V. (NYSE: CX) announced today the pricing of a non-dilutive equity offering, in which it and certain selling ADS holders have agreed to sell 25.5 million ADSs in an underwritten public offering. Citigroup Global Markets Inc. acted as global coordinator for the offering.
The 25.5 million ADSs are being offered in the form of both ADSs and CPOs, comprised of approximately 20.3 million ADSs and approximately 26 million CPOs. One ADS represents five CPOs. The ADSs are being offered to the public at a price of US$23.15 per ADS, and the CPOs are being offered to the public at a price of MXP52.07 per CPO. The aggregate proceeds of the offering to CEMEX and the selling ADS holders are expected to be approximately US$574 million, after underwriting discounts and commissions. This transaction will not increase the number of shares outstanding and thus will not dilute existing shareholders.
The underwriters have an option to purchase up to an additional 3.825 million ADSs to cover any over-allotments.
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. 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.