Ecuadorean Dairy Plans IPO

Ecuadorean Dairy Plans IPO

Ecuador Equity

Holding Tonicorp, an Ecuadorean dairy producer, is preparing an IPO to raise $74m-$87m, according to a broker managing the transaction. In what appears to be the country’s first IPO in at least five years, Tonicorp plans to float 30%-35% of itself, or 12.4m-14.4m shares, at an offering price of $6.00 each. The IPO is set to open on Wednesday. While bankers have been forecasting that borrowers are unlikely to come with more IPOs this year, they may have overlooked how small markets like Ecua

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial