Peruvian Builder Sets FO Target

Peruvian Builder Sets FO Target

Peru Equity

Peru’s Grana y Montero is targeting more than $400m for the follow-on equity sale representing the debut of its ADS shares, according to a regulatory filing. The builder is selling 16.3m ADS, representing 81.4m common shares, at $19.70-$23.30 each in the US market, in a deal expected to price July 23, according to a person following the sale. The range indicates a $402m sale at the midpoint, assuming a 15% greenshoe is used. About 60% of the proceeds will go to infrastructure projects, 20% for a

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