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LONDON - CRH (NYSE:CRH) (UK) Limited, a subsidiary of CRH plc, has announced its intention to sell approximately 15.4% of SigmaRoc Plc’s issued share capital, which equates to up to 171,578,948 ordinary shares. The sale, referred to as the Placing, will be conducted through an accelerated bookbuild process initiated immediately following the announcement.
The joint bookrunners, Numis Securities Limited and J.P. Morgan Securities plc, which operates in the UK as J.P. Morgan Cazenove, are managing the transaction. The Placing is expected to lead to CRH fully exiting its interest in SigmaRoc, the construction materials company.
The final details regarding the number of shares to be sold and their placement price will be determined at the close of the bookbuild, with the results announced shortly thereafter. The timing of the bookbuild’s conclusion is at the discretion of the joint bookrunners and will depend on demand, pricing, and market conditions.
CRH will be subject to a 60-day lock-up period for any remaining shares in SigmaRoc post-Placing, with exceptions or waivers only possible with the joint bookrunners’ consent. SigmaRoc will not receive any proceeds from the share sale, as the transaction solely involves CRH’s holdings.
The information for this article is based on a press release statement.
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