INSUBCONTINENT EXCLUSIVE:
Votorantim, a large Brazilian industrial group, is considering a bold move
The company plans to list its cement division on the New York Stock Exchange
This decision comes as construction material firms seek higher valuations in more liquid markets.The cement industry faces challenges
It ranks as the seventh-largest cement producer globally
This scale underscores the significance of the potential IPO.In 2022, Votorantim Cimentos generated revenue of approximately R$28.5 billion
This stability may appeal to potential investors in a New York listing.Brazilian Votorantim Conglomerate Explores US Listing for Cement
(Photo Internet reproduction)The IPO discussions are still in early stages
Market conditions will play a crucial role in the final decision
Votorantim has explored similar options before
In 2013, the company canceled plans for a $3.7 billion listing in Brazil and the US.Other industry players are making similar moves
Swiss cement giant Holcim announced plans to separate its North American operations
Greek firm Titan Cement International also aims to list its US operations
In the second quarter of 2024, the cement division reported a net profit of R$515 million ($90.4 million)
This figure represents a 10% increase from the previous year
Global net revenue reached R$7 billion ($1.23 billion) during the same period.Brazilian Votorantim Conglomerate Explores US Listing for
Cement DivisionThe company maintains a strong liquidity position
Total cash and financial investments amount to R$4.9 billion ($860 million)
other Brazilian conglomerates
Cosan, for example, recently filed for an IPO of its lubricants unit
However, market conditions led to a postponement
The group has interests in aluminum production, renewable energy, and banking
