Monitor tender results after the November 20, 2026 expiration. If fully subscribed, expect delisting from NYSE and termination of SEC reporting obligations, reducing liquidity for remaining public holders.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 2 $12.69entry
- T+1 · yesterday +0.32%α −1.34% · $12.73
- T+2 · todayOpen
- T+5 · in 5d Pending
- T+20 · in 27d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outExecutive Summary
Holcim Ltd, through its subsidiary Inversiones ASPI S.A., is proceeding with a mandatory tender offer to acquire all outstanding common shares and ADSs of Cementos Pacasmayo S.A.A. not already owned by Holcim, at S/8.93 per common share and S/44.65 per ADS. This Amendment No. 1 to the SC 13E-3/A and SC TO-T/A updates the offer documents with an amended and restated offer to purchase, reflecting no change in price or terms. The offer expires November 20, 2026, is not subject to financing or minimum tender conditions, and is part of a going-private transaction with plans to delist from the NYSE and terminate SEC registration.
Key Facts
- Offer price: S/8.93 per common share, S/44.65 per ADS (payable in USD for U.S. holders and ADS holders)
- Purchaser (Inversiones ASPI S.A.) already owns 50.01% of CPAC; seeking remaining 49.99%
- Offer expires November 20, 2026; no financing or minimum tender conditions
- Post-offer plans include delisting ADSs from NYSE and terminating SEC registration
- Company board expressed no opinion and remains neutral on the offer
- Aggregate purchase price if fully subscribed: approximately S/1.892 billion (approx. USD 550 million)
- Funding from Holcim equity contribution; payment guaranteed by Banco BBVA letter of guarantee for S/1.896 billion
Financial Impact
Aggregate purchase price of approximately S/1.892 billion (approx. USD 550 million) for the 49.99% of shares not already owned by Holcim.
Risk Factors
- If insufficient shares are tendered, the going-private and delisting plan may be delayed or altered
- Post-offer minority holders face reduced liquidity and loss of SEC reporting protections
Investment Themes
Documents Analyzed
This report is based on 9 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13E-3/A Filing (Primary) | 0001140361-26-041643 |
| Document: ny20084690x1_sctota.htm | 0001140361-26-041643 |
| Document: ny20084690x1_exa1b.htm | 0001140361-26-041643 |
| Document: ny20084690x1_exa1d.htm | 0001140361-26-041643 |
| Document: ny20084690x1_exa1e.htm | 0001140361-26-041643 |
| Document: ny20084690x1_exa1c.htm | 0001140361-26-041643 |
| Document: 0001140361-26-041643-index-headers.html | 0001140361-26-041643 |
| Document: 0001140361-26-041643-index.html | 0001140361-26-041643 |
| Document: 0001140361-26-041643.txt | 0001140361-26-041643 |
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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