CEMEX Holdings Philippines, Inc. Announces Pricing of Initial Public Offering

CEMEX Holdings Philippines, Inc. (“CHP” or the “Company”) today announced that the offer price for its initial public offering of 2,032,980,830 common shares with a stabilization option of 304,947,124 common shares (collectively, the “Offer Shares”), representing 45% of CHP’s capital stock, has been set as P10.75 per share.

CHP’s Chairman and President, Mr. Pedro Jose Palomino, said “We are delighted by the strong participation that we have received from institutional investors for our IPO notwithstanding events in Europe. We take this as a sign of the investors’ confidence in the long-term prospects of CHP and, more importantly, the Philippines as a whole.”

Mr. Eduardo V. Francisco, the President of BDO Capital & Investment Corporation, which serves as the Domestic Lead Underwriter, on the other hand, related, “We are truly proud to be a part of this IPO. The ability to price and launch the deal amidst volatility is a testament to the strong fundamentals and growth prospects of the Company. Retail investors can take the cue from the strong institutional demand and should take a look at the offer.”

Proceeds from the IPO would be used by CHP to pay debt owed to a subsidiary of CHP’s ultimate parent company and to pay the debt used to refinance the debt owed to such subsidiary of CHP’s ultimate parent company, which includes debt owed to BDO Unibank, Inc. and could include debt owed to CHP’s principal shareholder. The shares are expected to begin trading on the Philippine Stock Exchange on July 18, 2016 under the ticker symbol “CHP.”

Citigroup Global Markets Limited, The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and J.P. Morgan Securities plc are acting as Joint Global Coordinators and Joint Bookrunners, while BDO Capital & Investment Corporation serves as the Domestic Lead Underwriter for the transaction.

A pre-effective approval of the registration statement relating to the securities was issued by the Securities and Exchange Commission (“SEC”) last 17 June 2016. Also on 17 June 2016, the Philippine Stock Exchange (“PSE”) approved CHP’s initial listing application for the listing of its shares on the PSE as announced in the PSE’s website on June 20, 2016. The PSE’s approval is subject to CHP’s compliance with all post-approval requirements of the PSE.

This press release 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 or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from the Company’s website: cemexholdingsphilippines.com or the Domestic Lead Underwriter’s offices.

About CHP

CHP is one of the leading cement producers in the Philippines, based on installed annual capacity. CHP produces and markets cement and cement products, such as ready-mix concrete and clinker, in the Philippines through direct sales using its extensive marine and land distribution network. Moreover, CHP’s cement manufacturing subsidiaries have been operating in the Philippines for over 17 years, and have well established brands, such as "APO," "Island," and "Rizal," each of which has a multi-decade history in the country.

CHP is indirectly owned by CEMEX, S.A.B. de C.V., one of the largest cement companies in the world based on annual installed cement production capacity. The shares of CEMEX, S.A.B. de C.V. are listed on the Mexican Stock Exchange and the New York Stock Exchange.