Sempra Mexico IPO Said to Price at Top End of Range
Infraestructura Energetica Nova SAB, a Mexican unit of U.S. natural-gas utility Sempra Energy (SRE), priced an initial public offering at the top of its projected range, two people with knowledge of the transaction said.
Nova sold shares at 34 pesos each in Mexico City, said the people, who asked not to be named because the transaction terms have not been publicly disclosed. The company had said in a regulatory filing that it planned to sell the shares in a range of 30 pesos to 34 pesos.
The company planned to raise as much as 7 billion pesos ($563 million) including the so-called greenshoe option for underwriters to buy additional shares, according to the prospectus.
Doug Kline, a San Diego-based spokesman for Sempra Energy, declined to comment on the share price.
Investor orders for the shares totaled more than 10 times the amount offered, the people said.
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