Mexico’s Hotelero Santa Fe to offer $114 mln in new shares

MEXICO CITY, June 15 (Reuters) – Mexico’s Grupo Hotelero Santa Fe, which operates a chain of higher-end hotels, said it plans to offer up to 2.16 billion pesos ($114 million) in additional shares to the market on Thursday.

The company plans to place up to 215.6 million shares locally and abroad, including overallotment, via the Latin American Integrated Market (MILA), which also encompasses the stock exchanges of Chile, Colombia and Peru.

The offer assumes a price between 8 pesos and 10 pesos a share, it said in a statement to Mexico’s bourse on Wednesday.

The Mexico City-based firm, 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 last month.

The company’s shares, which began trading in September 2014, closed up 1.5 percent on Wednesday at 8.31 pesos.

$1 = 18.9716 Mexican pesos Reporting by Noe Torres and Anna Yukhananov; Editing by Gopakumar Warrier

Our Standards: The Thomson Reuters Trust Principles.

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