Mexichem Clinches Well-bid Equity Sale

Mexichem Clinches Well-bid Equity Sale

Mexico Equity

Mexichem has priced a MXP15.6bn ($1.21bn) follow-on equity offering, coming at a 2.9% discount and drawing 4x demand. The industrial conglomerate priced 260m shares, assuming a 15% greenshoe is used, at MXP60.00 each, according to sources familiar with the sale. The level compares to Tuesday’s MXP61.82 closing price. About 60% of the tranche was expected to be allocated to international investors, and 40% to Mexican-based buyers. The strong international bid suggests investors are still keen to

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