Mexico's Elementia expects to raise $336 mln in July IPO

jueves 25 de junio de 2015 17:46 GYT
 

MONTERREY, June 25 (Reuters) - Mexican construction conglomerate Elementia, part-owned by billionaire Carlos Slim, plans to raise up to about 5.2 billion pesos ($336 million) in an initial public offering (IPO) next month, the company said on Thursday.

A preliminary prospectus detailed that Elementia plans to offer 201 million shares at a range of between 20 and 25 pesos per share.

The IPO will take place on July 9 and shares can begin trading on July 10, the company said.

The capital raised will be mostly used to increase production capacity in the company's cement division.

The IPO will also include a 15 percent over-allotment above the base amount, which will bring the total number of shares to about 231 million, representing 26.46 percent of the company's shares. ($1 = 15.4916 Mexican pesos) (Reporting by Gabriela Lopez; Editing by Chris Reese)