Colombian banking group Grupo Aval prices IPO at $13.50/ADS
Sept 23 (Reuters) - Colombian banking group Grupo Aval SA raised $1.1 billion after its U.S. initial public offering was priced at $13.50 per American Depositary Share.
The company said it was selling 81.48 million ADSs in the offering.
Each ADS represents 20 preferred shares. They are due to start trading on the New York Stock Exchange on Tuesday under the ticker "AVAL."
J.P. Morgan Securities LLC, Goldman Sachs & Co, Citigroup Global Markets Inc and Morgan Stanley & Co LLC are underwriting the offering. (Reporting By Sudarshan Varadhan)
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