May 27, 2016 / 11:12 PM / 2 years ago

Grupo Hotelero Santa Fe plans secondary share offer

MEXICO CITY, May 27 (Reuters) - Grupo Hotelero Santa Fe, a Mexico City-based company which operates a chain of higher-end hotels, intends to have a secondary public offering, the company said on Friday.

The company plans to raise up to 1.725 billion pesos ($94 million), pending regulatory approval, according to a company presentation on the Mexican stock exchange’s website.

Grupo Hotelero Santa Fe, which has a market capitalization of around 2 billion pesos, will use the funds for future acquisitions and unspecified capital expenditures, a draft prospectus showed.

On Friday, company shares closed up 0.3 percent at 8.65 pesos per share.

A spokesman for the company could not immediately be reached for comment. ($1 = 18.4465 pesos) (Reporting by Natalie Ann Schachar and Noe Torres; Editing by Cynthia Osterman)

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