Builder Launches Colombia IPO

Colombia’s Construcciones El Condor has launched its COP150bn-COP162bn ($85m-$91m) IPO, starting a sale period that will close March 27, with final allocations shortly after. The engineering and construction company is selling 106m shares at COP1,415 each. The sale represents an 18.75% float, which would reach 20% if a 9m overallotment is exercised. Bancolombia is managing the transaction.