Simec Launches Global Offer

Mexican steel company Grupo Simec is to make a global public offering of 52.2 million Series B shares, which may be delivered as ADRs, each representing three Series B shares (ADSs), plus an additional 7.8 million Series B shares to cover over-allotments. The global offering, worth an estimated $230 million, includes a concurrent offering of Series B shares in Mexico, said Simec. Citigroup Global Markets is the global coordinator for the offering, and Acciones y Valores Banamex, Casa de Bolsa Integrante del Grupo Financiero Banamex, and Ixe Casa de Bolsa, Ixe Grupo Financiero, are the joint bookrunners in the Mexican tranche.