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OHL Mexico follow-on offering declared a success


Mexico City, Jun 22 (EFE).- OHL Mexico, the Mexican unit of Spanish construction giant Obrascon Huarte Lain, raised nearly 7 billion pesos ($521 million) in a successful follow-on offering, the placement agent, Casa de Bolsa BBVA Bancomer, said in a statement.

The share sale was underwritten by Mexican and international investors, the brokerage house added.

The offering included 93.6 million shares placed on the Mexican Stock Exchange and 116.1 million shares in foreign markets, as well as an overallotment option of 31.4 million additional shares for underwriters.

The price of Friday's offering was 29 pesos ($2.16) per share.

The funds raised will be used "to cover the company's cash flow needs, finance its current investment plan and implement new projects," the brokerage house said.