Cement Firm Amrize Falls in Spinoff Debut as Holcim Jumps
Amrize Ltd.’s shares fell in Switzerland following the North American cement-maker’s split from Holcim Ltd., sinking even as its former owner’s stock price climbed.
Shares in the US cement unit closed down 15% from the reference price at 39.31 Swiss francs ($48.35) apiece in Zurich, while Holcim’s Swiss shares closed 14% above their respective reference price at 54.3 Swiss francs each. Holcim shareholders were given one Amrize share for each one they held in the firm. Amrize’s US shares closed at $51.99 on Monday in New York.