Holcim Jumps on $30 Billion Spin-Off Plan for US Business
- Swiss cement maker seeks to list the business next year
- US listings offer firms the prospect of higher valuations
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Holcim Ltd. jumped after the Swiss cement maker said it will spin off its North American unit into a separate US-listed entity, a move that could unlock a higher valuation for the business.
The US arm had about $11 billion in sales last year — about one third of Holcim’s total — and could be valued at more than $30 billion, the company said. Holcim shares climbed as much as 14% in early trading, the most since March 2020, and were up 4% as of 1:50 p.m. Zurich time, valuing the entire company at almost 39 billion Swiss francs ($45 billion).