Medica Sur Prices Follow-on

Medica Sur priced a MXP743m ($63m) follow-on Wednesday at MXP24 per share. The transaction consisted of 25m secondary shares sold by local development bank Nafinsa, which owned a 21% stake in the Mexican hospital operator, worth about MXP602m at the follow-on price, and around 5m primary shares. Proceeds from the primary sale will mostly fund expansions and a refurbishment of a Tlalpan facility in Mexico City. Founded in 1982, Medica Sur operates hospitals and clinics and provides other health services including diagnostics, research and imaging in Mexico City, Monterrey, Cuernavaca and the state of Mexico. Ixe and BBVA Bancomer are managing the sale.