Bricks postpones IPO

Bricks postpones IPO

IPO Equity Capital Markets Corporate & Sovereign Strategy Funds Regulation Mexico US

Bricks Acquisition has postponed a proposed $100m IPO on Mexico's alternative stock exchange BIVA until late March, LatinFinance has heard. "We saw appetite from foreign institutional investors, but Mexico's Afores [pension funds] meet in mid-March, so we decided to postpone the issue to give them time to participate," CEO Alberto Azpúrua said. Bricks now plans to sell shares on March 29, with the brokerage firms Punto de Bolsa, Actinver and Finamex placing 10m shares for $10 each, Azpúrua add

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