Sempra’s Mexico Unit Surges on First Day After IPO
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Infraestructura Energetica Nova SAB, the Mexican unit of U.S. natural-gas utility Sempra Energy, jumped after selling $600 million of shares in the country’s first initial public offering of an energy company.
Nova rose 17 percent to 39.62 pesos at the close of trading in Mexico City after pricing the shares yesterday in an initial public offering at 34 pesos each. Investor orders totaled more than 10 times the amount offered, according to two people with knowledge of the transaction, who asked not to be named because the figure wasn’t publicly disclosed.