HCMLY - Swiss Giant Holcim Prepares For US Debut Eyeing $30B Valuation With North American Spin-Off | Benzinga
In a significant move, Swiss building materials giant Holcim Ltd (OTC:HCMLY) has announced its plans to list its North American business on the New York Stock Exchange. The company also revealed a new CEO for its operations. The spin-off is expected to value the business at $30 billion.
What Happened: Holcim will list 100% of its North American operations on the NYSE, the company announced on Sunday, as reported by CNBC. This move is part of a larger strategy to focus on the North American market, which has been a significant growth driver for the company in recent years. The divestment is expected to be completed in the first half of 2025.
Miljan Gutovic, currently the head of Europe at Holcim, will take over as CEO from Jan Jenisch on May 1. Jenisch, who has led Holcim since 2017, will remain chairman and lead the planned listing in the U.S.
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