Cementos Argos Sets FO Price

Cementos Argos Sets FO Price

Colombia Equity

Colombia’s Cementos Argos has launched its follow-on equity sale, targeting more than COP1.925trn ($1bn). The cement producer is offering up to 250m preferred shares at COP7,700 to COP9,300 each, it says, meaning a COP2.125trn deal at the COP8,500 midpoint. Books are open through May 8. The sale is to include simultaneous Colombian and international offers. Parent Grupo Argos has indicated it will not exercise its rights in the offer. Argos plans to use 20% of the funds raised to repay debt, and

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial