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IEnova IPO Hits Top of the Range

Mar 22, 2013

Infraestructura Energetica Nova (IEnova) has priced its IPO at the top of the range, and expected to raise MXP7.41bn ($596m) after getting at least eight times demand, according to people following the transaction. The first-ever IPO in Mexico’s energy sector offered 218m primary shares at MXP34.00, coming against a MXP30.00-MXP34.00 range. The share total includes an expected greenshoe option. The Mexican unit of Sempra Energy is seen as...

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

Jan Dehn, Ashmore Investment Management