Colombian Builder Prices Follow-on

Colombian Builder Prices Follow-on

Colombia Equity

Colombia’s Conconcreto has priced a COP243bn ($137m) equity follow-on, it says, arriving at a price near the bottom of the range it had suggested. The infrastructure specialist priced 180m shares at COP1,350 each, versus the COP1,347-COP1,446 range it had indicated at the opening of the subscription period in the first week of December. Conconcreto used 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

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