Hotelier Pulls IPO

Hotelier Pulls IPO

Grupo Hotelero Santa Fe has postponed its IPO plans, according to people familiar with the matter, due to low demand. The Mexican hotel operator was scheduled to price Tuesday, against a challenging backdrop that included a decline in the Bolsa index. However, market conditions did not stop fellow real estate play Fibra Danhos from pricing a MXP5.98bn ($454m) IPO the same day. Santa Fe was offering 201m shares, including a 15% greenshoe, at MXP18.00-MXP22.00, suggesting a MXP4.03bn size at the m

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