October 13, 2010
Mexico’s Sare Holding plans to price an equity follow-on October 28, accord
Mexico’s Sare Holding plans to price an equity follow-on October 28, according to regulatory documents. The homebuilder seeks to raise up to MXP805m through a sale of up to 317m primary units. Shareholders still must approve the sale October 20. BBVA and Santander are managing the transaction. Sare aims to increase production and improve efficiency following a debt restructuring, using proceeds to provide working capital for completing projects. Sare shares closed Tuesday at MXP2.83.