Sports World sets up share sale after restructuring

Sports World sets up share sale after restructuring

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Mexican gym operator Grupo Sports World plans to raise up to MXN120 million ($5.9 million) in a share sale in the local market now that it has wrapped up a debt restructuring with a new two-year loan, a source close to the deal told LatinFinance on Monday. Mexico City-based Sports World plans to sell 18.4 million shares for MXN6.50 each and dilute its stake by 20% in the follow-on offering, the source said. The company expects to launch the deal next month on the BMV exchange, the source added.

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