Pinfra Parks Equity Sale at Discount

Oct 8, 2012

Mexico’s Promotora y Operadora de Infraestructura (Pinfra) has priced a MXP4.43bn ($349m) equity follow-on, coming at an 8.5% discount. The Mexican concession operator priced 70.4m shares, including the assumption of a 15% greenshoe, at MXP63.00 each, it says, versus Thursday’s MXP68.85 closing price. The shares closed down 2.21% at MXP67.33 Friday, on a day when the Bolsa gained 1.24%. Pinfra's order book was 2x covered, according to bankers on the sale, with the...

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