TGLT Reignites Argentine Equity

Argentine real estate developer TGLT was set to determine Thursday night and announce today the price on a $100m-$130m equivalent IPO. The subscription period launched October 21 and closed Thursday, with an ARP9.00-ARP11.50 range for the sale of 45.4m shares, with the possibility of upsizing to as much as 61.8m. Brazil’s PDG Realty will remain the largest shareholder in the company. Raymond James Argentina is managing the sale, the first IPO since fellow developer Consultario raised $113m in May 2008. The deal would be Argentina’s first IPO since 2008, according to Dealogic.