Mexico's Grupo Hotelero Santa Fe to raise up to $72 mln in IPO

miércoles 10 de septiembre de 2014 22:47 GYT

MEXICO CITY, Sept 10 (Reuters) - Mexican hotel group Grupo Hotelero Santa Fe expects to raise up to 948.8 million pesos ($71.91 million) in an initial public offering (IPO) priced at between 10 and 12 pesos per share, the company said in a filing on Wednesday.

Grupo Hotelero Santa Fe said it plans to sell up to 86.25 million shares, including an over-allotment option. The listing is set to price on Thursday, with trading of the company's shares beginning on Friday.

The company operates at the higher-end of Mexico's beach hotel sector, running several Hilton Worldwide franchises.

Last year, the company postponed a proposed $250 million IPO after not garnering enough demand.

Stock issues have been relatively slow this year after Mexican companies and real estate investment trusts raised a record $11.7 billion in initial public offerings and follow-on stock issues in 2013.

(Reporting by Gabriel Stargardter; Editing by Miral Fahmy)