This filing removes a regulatory hurdle, keeping the tender offer on track for the November 20, 2026 expiration. Monitor for any competing bids or shareholder litigation, but the offer is now procedurally closer to completion.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 3 $12.69entry
- T+1 · 10h ago +0.32%α −1.34% · $12.73
- T+5 · in 6d Pending
- T+20 · in 28d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
Cementos Pacasmayo filed a Form 6-K reporting that Holcim's subsidiary Inversiones ASPI S.A. cured regulatory observations from the SMV and filed Amendment No. 1 to the Schedule TO with the SEC on November 2, 2026, advancing the public tender offer for all outstanding shares at S/8.93 per share and S/44.65 per ADS. This is a procedural step in the going-private transaction, not a new event, and does not change the offer terms or conditions.
Key Facts
- On November 2, 2026, Inversiones ASPI S.A. filed a response with the SMV curing observations raised in Official Letter No. 5476-2026-SMV/11.1, attaching a new version of the Tender Offer prospectus and offer notice.
- On November 2, 2026, the Offeror and Holcim filed Amendment No. 1 to the Tender Offer Statement and Rule 13e-3 Transaction Statement on Schedule TO with the SEC, including the Amended and Restated Offer to Purchase.
- The tender offer is for all outstanding common shares at S/8.93 per share and ADSs at S/44.65 per ADS, expiring November 20, 2026, and is not subject to financing or minimum tender conditions.
- Holcim currently holds 50.01% of CPAC's common shares and seeks to take the company private.
Financial Impact
The tender offer values the remaining ~49.99% of CPAC at approximately $550M based on the $1.1B market cap; no new financial terms were disclosed in this filing.
Risk Factors
- The tender offer remains subject to regulatory approvals and shareholder tenders; failure to reach full acceptance could leave Holcim with a controlling but not 100% stake.
- Any further SMV observations or SEC comments could delay the offer timeline.
- Minority shareholders may challenge the offer price or process, though no such actions are noted in this filing.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-115151 |
| Document: ea031064001ex99-1.htm | 0001213900-26-115151 |
| Document: 0001213900-26-115151-index-headers.html | 0001213900-26-115151 |
| Document: 0001213900-26-115151-index.html | 0001213900-26-115151 |
| Document: 0001213900-26-115151.txt | 0001213900-26-115151 |
| Earnings Context (Synthetic; results releases only) | 0001213900-26-115151 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | 6-K | $12.70 | awaiting T+1 | awaiting T+1 | $12.73 (+0.24%) |
Nov 3, 2026 1d ago | 6-K | $12.69 $12.73 | ▲ +0.32% | ▼ −1.34% | $12.73 (+0.32%) |
Nov 3, 2026 1d ago | 6-K | $12.69 $12.73 | ▲ +0.32% | ▼ −1.34% | $12.73 (+0.32%) |
Nov 2, 2026 1d ago | SC 13E-3/A | $12.69 $12.73 | ▲ +0.32% | ▼ −1.34% | $12.73 (+0.32%) |
Nov 2, 2026 1d ago | SC 14D-9/A | $12.69 $12.73 | ▲ +0.32% | ▼ −1.34% | $12.73 (+0.32%) |
Nov 2, 2026 2d ago | 6-K | $12.69 $12.73 | ▲ +0.32% | ▼ −1.34% | $12.73 (+0.32%) |
Oct 29, 2026 6d ago | 6-K | $12.76 $12.71 | ▼ −0.39% | ▲ +0.09% | $12.73 (−0.24%) |
Oct 29, 2026 6d ago | 6-K | $12.76 $12.71 | ▼ −0.39% | ▲ +0.09% | $12.73 (−0.24%) |
Oct 29, 2026 6d ago | 6-K | $12.76 $12.76 | · 0.00% | ▲ +1.77% | $12.73 (−0.24%) |
Oct 28, 2026 7d ago | 6-K | $12.79 $12.76 | ▼ −0.23% | ▲ +0.15% | $12.73 (−0.47%) |
US Market Status
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