House Waiting on IPO

Mexico’s Grupo House has opted to wait on pricing its local IPO. It had been planning to price late last week or early this week, but has decided to “postpone the closing of the books for the next few weeks,” it says. The transaction could raise as much as MXP562m, with the issuer set to sell 88.9m shares, or 115.5m if a greenshoe and hot issue are exercised, at MXP4.50-MXP5.50, according to regulatory documents. BofA Merrill Lynch is managing the transaction. The operator of the Arrachera House, Taqueria House and Sixties chains would register under the SAPIB designation for smaller issuers.