Hotel Operator Launches IPO

Hotel Operator Launches IPO

Mexico Equity

Grupo Hotelero Santa Fe has launched its IPO, targeting MXP4.03bn ($311m) and pricing October 8, according to regulatory documents. The hotel operator plans to sell 201m shares, if a 15% greenshoe is included, at MXP18.00-MXP22.00 each, meaning a MXP4.03bn size at the midpoint. The issuer expects 84% of the deal to consist of primary shares, and the remainder to be secondary shares sold by investors Nexxus Capital and Walton Street Capital. Santa Fe is raising funds to repay debt and for expansi

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