Vesta CEO: Pricing Pressure on Follow-On

Vesta CEO: Pricing Pressure on Follow-On

Equity

Lorenzo Berho Corona, CEO of Corporacion Inmobiliaria Vesta, says the company had been looking for better pricing in Tuesday’s follow-on equity offering, but it decided to proceed with the deal to take advantage of a narrow issuance window. “There was a pressure on price on the day of placement. But we built a strong book which was 2x oversubscribed,” he says. Investors bought close to 98m primary shares and 12.8m secondary shares at MXP22.5, a 4.9% discount to Vesta’s MXP23.67 closing price. Th

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