Mexican Dairy IPO Prices at Top

Mexican Dairy IPO Prices at Top

Mexico Equity

Grupo Lala has priced an IPO at the top of the range, according to people familiar with the transaction, a deal that should raise MXP14.04bn ($1.08bn) and was multiple times subscribed. The Mexican dairy and food products company priced Mexico’s biggest IPO of the year Tuesday night, despite following a 1.2% loss Tuesday in the Bolsa. The issuer is offering 444m primary shares at MXP27.50 each, meaning a MXP14.04bn deal if a 15% greenshoe is included. The price comes versus a MXP23.50-MXP27.50 r

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