International Cement Group announced on Mar, 13 2026 that its wholly owned subsidiary, International Cement Shar Pte. Ltd., has agreed to acquire an additional 12.5% interest in Kazakhstan-based Sharcem LLP from Nurzhan Shakirov.

The transaction is valued at USD 16.667 million (about 21.3 million Singapore dollars), comprising a USD 15 million cash payment for the shares and USD 1.667 million to cover the seller’s tax liabilities. The consideration will be settled in four instalments between Jun, 30 2026 and Sep, 30 2026, funded entirely from internal resources.

Upon completion—targeted by Aug, 31 2026—International Cement Group’s effective stake in Sharcem will rise to 87.5% from 75%, while Shakirov’s holding will fall to 12.5%.

Sharcem operates a dry-process cement plant in East Kazakhstan with an annual capacity of 1.0 million tonnes. The parent company said the larger stake would strengthen its presence in eastern Kazakhstan and Astana, and position it to benefit from local regulations that favour environmentally friendlier production methods.

Pro forma figures show the deal would have reduced the group’s net tangible assets per share to 4.36 cents from 4.77 cents as of Dec, 31 2025, while earnings per share for FY2025 would have inched up to 1.0494 cents from 1.046 cents. The purchase price represents roughly 6% of International Cement Group’s market capitalisation of 361.3 million Singapore dollars as at Mar, 12 2026.