Grupo Famsa raises equity

Grupo Famsa raises equity

Equity

Grupo Famsa raised MXN1.5bn ($110m) through a preferential follow-on offer, a company source told LatinFinance. The financial conglomerate sold 130.4m shares at MXN11.50 each, as planned. Famsa’s controlling shareholder, the Garza Valdez family, bought approximately 65% of the offering — matching the stake that they currently hold in Famsa, the source told LatinFinance. The company will use around MXN1bn to pay back short-term debt including local bonds and bank loans, MXN300m will go toward cap

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