Booming E-Commerce Fuels Colombia’s First IPO in Almost a Decade
- LatAm Logistic Properties seeks to raise up to $225 million
- Retailers require three times more storage in online offerings
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Latin America’s pandemic-fueled boom in online shopping is paving the way for the first initial public offering in Colombia’s stock exchange in almost a decade.
LatAm Logistic Properties, which owns and operates warehouses in Costa Rica, Colombia and Peru, is looking to raise as much as $225 million in the share sale, expected to price Aug. 4. The company, known as LLP, will use the funds to expand in the three countries it already operates in and to enter Chile, Panama and Ecuador this year, according to Chief Executive Officer Mike Fangman.