Mexico Property Developer Vesta Raises $240 Million in Follow-On Share Sale
A man walks near the Meggitt Plc warehouse in Corp. Inmobiliaria Vesta SAB's Aerospace Park in Queretero, Mexico, on Monday, June 24, 2013.
Photographer: Susana GonzalezMexican industrial property developer Corporacion Inmobiliaria Vesta SAB raised about $240 million in a follow-on share sale on local and US exchanges.
The company priced 1.2 million American Depository Shares, or ADS, at $34.62, and 58.1 million common shares at 59.50 pesos ($3.46) each, according to a statement. Each ADS represents 10 common shares. Underwriters have a 30-day option to purchase an additional 10.5 million common shares, represented by ADS.