Market Awaits Pinfra FO

Market Awaits Pinfra FO

Mexico Equity

Mexico’s Promotora y Operadora de Infraestructura (Pinfra) had yet to price an equity follow-on late Thursday evening. The Mexican concession operator was scheduled to price 70.4m shares, including a 15% greenshoe, implying a MXP4.85bn ($380m) sale based on Thursday’s MXP68.85 closing price. The books were heard to be oversubscribed. Some 42% of the sale is destined for an international tranche. About 70% of the shares are to be secondary shares sold by members of the Penaloza family and various

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