James Hardie Issues Unquoted Shares to Settle AZEK Equity Awards After July Merger

An update from James Hardie ( (AU:JHX) ) is now available.

On 18 December 2025, James Hardie Industries plc reported the issue of 48,957 unquoted ordinary shares (ASX code JHXAM) on 15 December 2025, at an issue price of US$0.6924 per share, in connection with its previously announced 1 July 2025 merger with The AZEK Company Inc. The new shares were issued to settle certain AZEK equity awards outstanding at the time of the merger and follow an earlier Appendix 3B proposal, with the company having obtained an ASX waiver from Listing Rule 2.4 in July 2025 to facilitate this unquoted issuance; following the transaction, James Hardie’s capital structure includes over 430 million quoted CHESS Depositary Interests and a substantial pool of unquoted ordinary shares and equity incentives, underlining the continued use of equity to complete integration of the AZEK acquisition and align stakeholders with the combined group’s performance.

The most recent analyst rating on (AU:JHX) stock is a Hold with a A$33.00 price target. To see the full list of analyst forecasts on James Hardie stock, see the AU:JHX Stock Forecast page.

More about James Hardie

James Hardie Industries plc is a global building materials manufacturer best known for its fiber cement siding and related exterior building products, with listings that include CHESS Depositary Interests on the ASX under code JHX. The company is significantly exposed to residential and commercial construction markets and, through its acquisition of The AZEK Company Inc., is expanding its presence in complementary building products, using equity-based consideration and share-based awards to integrate AZEK’s business and employees.

Average Trading Volume: 4,672,063

Technical Sentiment Signal: Sell

Current Market Cap: A$17.45B

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