Ratanarak Group increasing its shareholding in Siam City Cement
Today, the largest shareholder in Siam City Cement, the Ratanarak Group, has acquired an additional stake of 25.54% from Jardine Cycle and Carriage Ltd, increasing its combined shareholding to approximately 71.88%.
This acquisition will be followed by a mandatory tender offer available to all remaining minority shareholders. Regardless of the outcome of the mandatory tender offer, it is understood that Siam City Cement will remain a public company listed on the Stock Exchange of Thailand in compliance with applicable listing requirements. The Ratanarak Group, the founders of Siam City Cement back in 1969, will after this acquisition be the sole major and controlling shareholder.
This commitment of the Ratanarak Group to Siam City Cement is a testimony of the Group’s confidence in the potential of the infrastructure and construction markets and in the Company’s cement and building materials business ranging from aggregates, ready-mix concrete and mortar as well as the innovative and architectural materials such as Conwood and the light-weight panels marketed under the ISUB brand. Siam City Cement is already holding leading positions in the cement markets in South Vietnam, Sri Lanka as well as in Cambodia (through its joint venture), all combined operating as a regional building materials player with multiple growth opportunities. Currently, a particular focus is, however, on the expansions into waste management and industrial services through the Ecocycle business units in Thailand, Vietnam, Sri Lanka and Cambodia.
Siam City Cement is committed to building strategically located market-leading positions adhering to the highest professional and industry standards which in turn will ensure growth of the Company’s business as opportunities in the infrastructure and housing space together with complementary opportunities for the Ecocycle business units will arise.
