Exalmar Revives Peru IPO Market

Exalmar Revives Peru IPO Market

Peru Equity

Peru’s Pesquera Exalmar has priced a PES341m ($120m) IPO, the country’s first since 2007, boosting hopes for other Andean issuers. The fishmeal and oil producer sold 57.5m primary and 14.2m secondary shares at PES4.75, according to a banker on the sale. The 71.7m unit total falls short of a 112m maximum, but ECM bankers and investors are optimistic more Peru issuance should follow, particularly in the consolidating fishery sector, from which Exalmar is the third to list. There had been no price

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