Loma Negra, a leading Argentine cement producer, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. The company is planning a global offering and intends to list ADSs on the NYSE and ordinary shares on the Bolsas y Mercados Argentinos (BYMA) under the ticker LOMA. We estimate that the global offering could raise as much as $500 million.
The Buenos Aires, Argentina-based company was founded in 1926 and booked $708 million in sales for the 12 months ended June 30, 2017. Loma Negra filed confidentially on July 12, 2017. BofA Merrill Lynch, Bradesco BBI, Citi, HSBC Corporation, Itau BBA and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
