Colombian Builder Launches Follow-on

Colombian Builder Launches Follow-on

Colombia Equity

Colombia’s Conconcreto has launched its equity sale, it says, targeting more than $130m-equivalent and using a discretionary allocation process seen as a novel move for a Colombian follow-on. In contrast to the usual process of setting a fixed price and then taking orders, the infrastructure specialist has indicated a fair value price of COP1,643 ($0.91) per share, and noted that a 12%-18% discount would be appropriate, or COP1,347-COP1,446. Buyers can now submit their bids, be they existing hol

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