Tres Marias Pushes Back IPO

Mexican developer Tres Marias has pushed back its IPO on the Mexican bolsa to June 3 from May 26, according to regulatory documents. It hopes to raise up to MXP1bn through the sale of 29.1m shares at MXP34.32 each. The issuer is developing a “city within a city” mixed-use project in Michoacan state, and has elected to raise funds by IPO rather than a CCD as initially planned. The move follows changes allowing Mexico’s pension funds to more freely invest in IPOs. Ixe is managing that sale. Elsewhere in Mexican equity, Proteak was scheduled to raise as much as MXP1.13bn through an IPO today, after having indicated a price range of MXP11.58-MXP12.75. Bulltick is managing Proteak. Bankers on the deal did not return calls seeking comment on its status.