Grupo Mexico hopes to raise $1.3 bln in ITM rail unit IPO by mid-2015

miércoles 25 de marzo de 2015 12:40 GYT

MEXICO CITY, March 25 (Reuters) - Mexican mining, transport and infrastructure company Grupo Mexico is hoping to raise $1.3 billion from an initial public offering of its ITM rail unit, a senior company executive said on Wednesday.

The company still hopes to list in the first half of the year, and expects the offering to be in high demand, Ferromex Chief Executive Rogelio Velez said.

Ferromex is the main railroad of ITM, and Mexico's largest. Grupo Mexico controls 75 percent of ITM, and Mexican billionaire Carlos Slim controls the rest. (Reporting by Gabriel Stargardter)