Peru-based construction company Graña y Montero sets terms for $350 million US IPO


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Graña y Montero, the largest engineering and construction company in Peru, announced terms for its IPO on Monday. The Lima, Peru-based company plans to raise $350 million by offering 16.3 million shares at a price range of $19.70 to $23.30. At the midpoint of the proposed range, Graña y Montero would command a fully diluted market value of $2.8 billion.

Graña y Montero, which was founded in 1933 and booked $2.1 billion in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol GRAM. The company initially filed confidentially in March 2013. Credit Suisse, J.P. Morgan, Morgan Stanley and BTG Pactual are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: GRAM

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