Proteak Resets IPO

Mexico’s Proteak is looking to price its IPO June 30, according to regulatory documents. The teak wood grower is aiming to raise as much as MXP1.13bn through the sale, for which it had indicated a price range of MXP11.58-MXP12.75. Proteak plans to sell up to 88.7m primary shares, including an 11.6m unit overallotment in the deal, shooting to be only Mexico’s third IPO in almost 2 years. Bulltick is managing the sale, with proceeds for acquisitions and organic growth. The deal was put on hold late May until market conditions improved.