25 de noviembre de 2014 / 19:59 / en 3 años

UPDATE 1-Mexico's Elementia eyes $400 mln IPO in early 2015

(Adds details on IPO plan, 2015 investment)

CELAYA, Mexico, Nov 25 (Reuters) - Mexican construction materials conglomerate Elementia, part-owned by billionaire Carlos Slim, is looking to list shares to raise around $400 million in the first quarter of next year if market conditions are good, the company’s chief executive said on Tuesday.

“We are ready to debut in the market,” said Elementia CEO Eduardo Musalem. “It could be the end of January, if the possibility exists, or February or March.”

Elementia officials said the company has been looking at issuing around $400 million in shares, adding that money from the initial public offering could be used to buy other companies. Last week, Elementia raised $425 million through a 10-year bond offering.

In September, when it first said it was exploring an IPO, Elementia said it would buy the stake held by France’s Lafarge in their jointly owned cement maker in Mexico for $225 million. <ID:nL2N0RN0XS>

Musalem said the company planned to invest around $40 million in its existing businesses next year. Speaking to reporters during a tour of a plant owned by the company’s copper materials unit, he also said no other acquisitions were currently in the works.

Mexican businessman Antonio del Valle, who controls plastic pipe maker Mexichem, holds 54 percent of Elementia, and Slim’s industrial conglomerate Grupo Carso owns the other 46 percent. (Reporting by Gabriel Stargardter; Editing by Tom Brown)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below