UAG Aims for Montevideo IPO

UAG Aims for Montevideo IPO

Equity Uruguay

Union Agriculture Group (UAG) is preparing to raise $50m-$100m through an IPO in Uruguay – what would be the Montevideo Bolsa’s first IPO since 2006. The farmland developer is looking to sell 2.2bn shares it says, in its second IPO attempt after a pulled 2012 US transaction. UAG is raising funds for further land acquisitions, of about 35,000 hectares. Discussions have started with investors, and the issuer expects to price in the next two months, it says, with an indication of price coming close

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