Swiss Giant Holcim Prepares For US Debut Eyeing $30B Valuation With North American Spin-Off
Portfolio Pulse from Benzinga Neuro
Swiss building materials giant Holcim Ltd (OTC:HCMLY) plans to list its North American operations on the NYSE, targeting a $30 billion valuation. The spin-off is slated for completion in the first half of 2025. Miljan Gutovic will become CEO on May 1, succeeding Jan Jenisch, who will become chairman and oversee the U.S. listing. Holcim's U.S. business aims to grow annual sales from $11 billion to over $20 billion and achieve an operating profit above $5 billion by 2030.
January 29, 2024 | 12:34 pm
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Holcim Ltd announced plans to list its North American business on the NYSE, which is expected to be valued at $30 billion. The spin-off is part of a strategic focus on the North American market and is expected to be completed by the first half of 2025.
The announcement of the spin-off and NYSE listing of Holcim's North American operations is a significant strategic move that could unlock shareholder value and attract new investors, likely leading to a positive short-term impact on HCMLY's stock price. The appointment of a new CEO and the ambitious growth targets for the U.S. business further underscore the company's commitment to this market, which may be viewed favorably by investors.
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