Argentina's Emdersa Faces Tough IPO Prospects

Argentina's Emdersa Faces Tough IPO Prospects

Equity

Emdersa, an Argentine power distribution company, will look to price an IPO today in Buenos Aires, Luxembourg and New York, but it is facing an increasingly discerning investor base, which may diminish the valuation. Late last week, the company said it wanted to price155.6m ordinary class B shares at ARS3.70-ARS4.40 and global depository shares at $11.75-$13.97. Wary of skewed economic data and heavy-handed government intervention in the economy, investors have punished Argentine assets harder t

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