ICA floats $192m in new shares

The Mexican construction and engineering firm issued 130 million new shares to investors in US and Mexico.

Mexican construction and engineering firm ICA has issued a new share offering totaling $192 million.

The public offering consisted of 130.4 million shares, of which 91.3 million were offered in international markets, including the US, and 39.1 million were offered in Mexico.

In the US, the shares were offered as newly issued American Depositary Shares – securities that give US investors interests in foreign companies’ shares held by custodian banks. They began trading on the New York Stock Exchange today, ICA said in a statement.

Including an additional 19.6 million shares the firm’s underwriters have been given an option to purchase, the offering represents 23.3 percent of ICA’s total equity.

Merrill Lynch is the global coordinator for the offering, and Santander Investment Securities Inc. and Citigroup Global Markets Inc. are joint bookrunners.