Building materials supplier plans IPO in the USA
The building materials producer Holcim wants to fully spin off its operations in the USA. The spin-off is to be listed on both the New York Stock Exchange and SIX. The Annual General Meeting will decide on this in May 2025.
Building materials producer Holcim, headquartered in Zug, will fully spin off its branch in the United States and list on the New York Stock Exchange as Holcim United States, according to a press release. Holcim in the USA is headquartered in Chicago, but also has a presence in 350 locations in 43 states and employs 7,000 people in the USA.
According to the press release, Holcim is making progress with the planned complete spin-off of its North American business. The North American business is to be listed on the New York Stock Exchange as a “domestic issuer” in accordance with SEC regulations, report under US rules and seek inclusion in relevant US stock indices. An additional listing on the SIX Swiss Exchange is planned in order to meet the needs of European investors.
The planned spin-off is subject to shareholder approval at Holcim’s Annual General Meeting on 14 May 2025, with a positive resolution expected to be implemented by the end of the first half of 2025, according to Holcim.
Holcim is a global provider of construction solutions with sales of CHF 27 billion in 2023 and around 63,000 employees. The company says it offers a wide range of advanced solutions, from the sustainable building materials ECOPact and ECOPlanet to the recycling technology ECOCycle and modern roofing and insulation systems from its subsidiary Elevate in Zaventem, Belgium.