Mexican real estate company Gicsa prepares IPO
MEXICO CITY, April 15 (Reuters) - Mexican real estate company Gicsa is planning to go public in May, according to a prospectus published on the website of Mexico's stock exchange on Wednesday.
The company, which builds and operates high-end residential developments as well as exclusive shopping centers and office properties in Mexico, said it would sell stock in Mexico and abroad.
The prospectus did not give any preliminary price details for the offering.
Gicsa had revenue of 3.5 billion pesos ($229.57 million) in 2014, a net profit of 1.3 billion pesos and total debt of 20.5 billion pesos, according to the prospectus.
Funds raised from the offering will be used for general working capital and for purchasing, building and developing 14 new projects, as well as to pay down debt, the document said.
JPMorgan is the lead bookrunner for the global offering, with local banks Grupo Financiero Banorte, Actinver Casa de Bolsa and Vector Casa de Bolsa acting in Mexico. ($1 = 15.2457 Mexican pesos) (Reporting by Tomas Sarmiento; Editing by Cynthia Osterman)
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