Grana y Montero Ready for US Share Debut

Grana y Montero Ready for US Share Debut

Mexico Equity

Peru’s Grana y Montero is set to price an equity sale today targeting more than $400m and representing the debut of its ADS shares. The transaction was heard to be oversubscribed as of Monday afternoon. The builder is selling 16.3m ADS, representing 81.4m common shares, at $19.70-$23.30 each in the US market, meaning a $403m sale at the midpoint if a 15% greenshoe is used. About 60% of the proceeds will go to infrastructure projects, 20% for acquisitions, 10% for the purchase of land for its rea

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