Graña y Montero S.A.A. Lists American Depositary Shares on the New York Stock Exchange
July 24 2013 - 10:21AM
Business Wire
Today, Graña y Montero S.A.A. (“Graña y Montero” or the
“Company”), the largest engineering and construction company in
Peru, listed its American Depositary Shares (“ADSs”) on the New
York Stock Exchange (NYSE) after a successful initial public
offering amounting to approximately US$413 million in gross
proceeds.
The Company also granted the underwriters an option to purchase
ADSs up to approximately US$62 million in gross proceeds,
exercisable within 30 days.
The offering consisted of 19,534,884 ADSs, each ADS representing
five common shares. The offering price was US$21.13 per ADS. As a
result of the offering, Graña y Montero began trading on the NYSE
under the ticker symbol “GRAM”.
José Graña Miró Quesada, President of Graña y Montero, said that
the Company plans to use the net proceeds of the offering to fund
capital expenditures, including potential investments and
acquisitions, as well as other general corporate purposes. “We
estimate that approximately 60% of the net proceeds will be
invested in infrastructure projects, 10% in the acquisition of land
for our real estate segment, 20% on potential acquisitions, and the
remainder will be used for other general corporate purposes,” he
said.
Credit Suisse, J.P. Morgan and Morgan Stanley have acted as the
Global Coordinators; BTG Pactual has acted as a Joint Bookrunner;
and BBVA Continental, Credicorp Capital and Interbank, have acted
as Co-managers in the offering.
A copy of the prospectus relating to the offering may be
obtained on the website of the U.S. Securities and Exchange
Commission at www.sec.gov.
About Graña y Montero
Founded in 1933, Graña y Montero is the only Peruvian
engineering and construction company listed on the Lima Stock
Exchange since 1997 and now also the NYSE. The Company has
participated in the development of major engineering and
construction projects in Peru, including large-scale, complex
projects in the energy, mining, construction and real estate
sectors.
With 80 years of operations, the Company has leveraged its
engineering and construction expertise into complementary lines of
business, such as the development, ownership, operation and
maintenance of infrastructure assets, real estate developments, and
the provision of technical services. The Company has significant
investments in infrastructure concessions, such as three toll roads
and Line 1 of the Lima Metro.
Graña y Montero also has developed an international presence
through major projects Latin America, such as La Paz airport in
Bolivia, the Four Seasons and W hotels in Mexico, four Melia hotels
in Dominican Republic, and the Ralco hydroelectric plant and the
Sheraton hotel in Chile.
The Company has also developed significant experience in the
mining sector by participating in some of the largest projects in
Peru and Latin America such as the San Cristobal mining project in
Bolivia, the San Jose mine in Argentina, the Pueblo Viejo mining
project in Dominican Republic, the Tanques de Acido Sulfurico
project in Chuquicamata and the Caserones transmission line in
Chile. The Company has also recently begun works in Minera Panama
in that country.
The Company has recently acquired two companies in Chile: Vial y
Vives in the mining industry, and CAM, which is specialized in
electric services, with operations in Chile, Peru and Colombia.
For more information about the Company or to obtain a copy of the
prospectus relating to the offering, please contact: Freddy Castro
Chirinos fchirinos@chisac.com 511-4344107 / 99 7534016 Chirinos,
Salinas & Associates Communication Consultant
Chirinos, Salinas & AssociatesFreddy Castro Chirinos,
511-4344107 / 99 7534016fchirinos@chisac.comCommunication
Consultant
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