Podilsky Cement plans to raise USD 100 mln in private placement
2 February 2009
Podilsky Cement (PCEM) said on Friday that it plans to raise UAH 837.6 mln (USD 109 mln) through a private placement of shares, according to Bloomberg. The share sale was approved by shareholders on Jan. 29 and will boost the company’s share capital 13x to UAH 907.5 mln (USD 117.9 mln). The company plans to use the proceeds to build a new environmentally-friendly production line. Podilsky Cement is based in Kamyanets-Podilsky (Western Ukraine) and is 99% owned by CRH Poland Products & Distribution BV.
