New Peruvian ADR: Cementos Pacasmayo

Pacasmayo Cement of Peru started trading on the NYSE from Feb 13, 2012 with the ticker CPAC.Pacasmayo  is the second Peruvian cement company to trade on the US markets. Here is a brief overview of this new ADR from the press release:

Cementos Pacasmayo is a leading Peruvian cement company, and the only cement manufacturer in the northern region of Peru. They are among the most profitable publicly-listed cement manufacturers in the world, based on operating margins over the past three years. They produce, distribute and sell cement and cement-related materials, such as concrete blocks and ready-mix concrete. Their products are primarily used in construction, which has been one of the fastest growing segments of the Peruvian economy in recent years. They also produce and sell quicklime for use in mining operations.

They sold 20 million ADRs at $11.50 per share raising $230.0 million. The ratio of ADR to common share is 1:5. After trading as low as $11.26 the stock closed just above the IPO price at $11.57 yesterday.

Founded in Lima, Peru in 1949 Pacasmayo is the second largest cement company in Peru. The company has operations in the north and east of the country with cement plants in Rioja and Pacasmayo, and ready-mix concrete plants in Chimbote, Trujillo, Pacasmayo, Piura and Cajamarca. Its common shares were listed on the Lima Stock Exchange under the ticker CPACASC1 in 1995.

For more information check out their corporate website here.

Cementos Lima is the biggest cement producer in Peru and its stock trades on OTC market under the ticker CEMTY.

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