The tender offer process is advancing with regulatory clearance. Monitor for the final SMV approval and the formal launch of the tender offer, which will set the exit price for minority shareholders. The delisting timeline remains the key catalyst.
Price Chart
Executive Summary
Cementos Pacasmayo filed a 6-K reporting that the valuation firm MSRA S.A.C. has responded to the SMV's comments on the tender offer valuation report, confirming all comments were addressed without modifying the minimum price per share disclosed on October 14, 2026. This is a procedural step in the mandatory tender offer process by Inversiones Aspi S.A. (Holcim) following the change of control, with the delisting overhang still present.
Key Facts
- MSRA S.A.C. responded to SMV comments on the valuation report for the tender offer by Inversiones Aspi S.A.
- The response does not constitute a new valuation report or modify the minimum price per share determined on October 14, 2026.
- All SMV comments have been addressed, per MSRA S.A.C.
- The tender offer is for voting shares of Cementos Pacasmayo S.A.A., following the change of control to Holcim (completed March 2026).
- Holcim has stated its intention to delist the ADSs from the NYSE.
Financial Impact
No financial figures disclosed in this filing. The minimum price per share from the October 14 valuation report remains unchanged.
Risk Factors
- Delisting from NYSE could reduce liquidity and force minority shareholders to tender at the minimum price.
- Potential for extended regulatory review or shareholder litigation challenging the valuation.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (CPAC) — Batch item 1 | 0001213900-26-112175 |
| Document: ea030957201ex99-1.htm | 0001213900-26-112175 |
| Document: 0001213900-26-112175-index-headers.html | 0001213900-26-112175 |
| Document: 0001213900-26-112175-index.html | 0001213900-26-112175 |
| Document: 0001213900-26-112175.txt | 0001213900-26-112175 |
| 6-K Filing (CPAC) — Batch item 6 | 0001213900-26-112175 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 6-K | $12.78 | awaiting T+1 | — | $12.77 (−0.08%) |
Oct 23, 2026 3d ago | 6-K | $12.73 | awaiting T+1 | — | $12.77 (+0.31%) |
Oct 22, 2026 4d ago | 6-K | $12.77 $12.73 | ▲ +0.31% | ▼ −0.21% | $12.77 (−0.00%) |
Oct 22, 2026 4d ago | 6-K | $12.77 $12.73 | ▼ −0.31% | ▲ +0.21% | $12.77 (+0.00%) |
Oct 21, 2026 5d ago | SC 13D/A | $12.77 $12.73 | ▼ −0.31% | ▲ +0.21% | $12.77 (+0.00%) |
Oct 21, 2026 5d ago | SC TO-T | $12.77 $12.73 | ▼ −0.31% | ▲ +0.21% | $12.77 (+0.00%) |
Oct 16, 2026 10d ago | 6-K | $12.68 $12.62 | ▼ −0.47% | ▼ −0.90% | $12.77 (+0.71%) |
Oct 16, 2026 10d ago | SC 13D/A | $12.68 $12.62 | ▼ −0.47% | ▼ −0.90% | $12.77 (+0.71%) |
Oct 15, 2026 11d ago | 6-K | $12.67 $12.68 | ▲ +0.08% | ▲ +1.19% | $12.77 (+0.79%) |
Oct 15, 2026 11d ago | 6-K | $12.67 $12.68 | ▲ +0.08% | ▲ +1.19% | $12.77 (+0.79%) |
US Market Status
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