Peruvian Clinches ADS Debut

Peruvian Clinches ADS Debut

Peru Equity

Peru’s Grana y Montero has set the price for an equity follow-on representing the debut of its US ADS that should raise at least $396m. The Peruvian builder set a PES11.75 per share price late Tuesday, according to people following the sale, which would indicate a PES1.1bn ($396m) transaction at the original 81.4m-share base deal if a 15% greenshoe is included. The shares were to be sold in the form of 16.3m ADS. The level indicates a 4.1% discount to Tuesday’s PES12.25 closing price, and sugges

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