Grana y Montero Upsizes ADS Sale

Grana y Montero Upsizes ADS Sale

Peru Equity

Peru’s Grana y Montero elected to upsize its equity follow-on, and should raise $474m, according to regulatory documents. The transaction representing the IPO of the Peruvian construction company’s ADS drew multiple times demand, according to people familiar with the terms. In addition to US and European buyers making up the bulk of the sale, Brazilian and Chilean institutions participated, as well as Peruvian pensions. The deal was increased to 19.5m ADS from 16.3m ADS, and the ADS priced at $2

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