Cultiba Re-IPOs at Low End

Jan 31, 2013

Mexico's Cultiba has priced a MXP3.94bn ($310m) equity follow-on that serves essentially as a new IPO, landing at the bottom of its price range. The Pepsi bottler formerly known as Embotelladoras Unidas offered 112.7m shares, assuming a 14.7m share greenshoe, at MXP35.00 each, according to sources familiar...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management