Chilean Builder Readies IPO Show

Chile’s Ingevec will begin taking orders Monday for a $30m equivalent IPO, with pricing set for August 23. Raising funds for an expansion plan, the construction and engineering company plans to list 260m shares, plus 10m in stock options to executives, or 28.9% of the company. It is looking to spend $130m through 2014 to bring sales to $450m from $250m this year. LarrainVial is managing the sale. The transaction comes as the region’s bankers and buyers have been expressing skepticism about equity deals getting done in the remainder of 2011, with Brazilian issuers and a Uruguayan pulling in recent weeks. Ecopetrol is looking to carry out a follow-on this month in Colombia, however, and Chilean issuers have seen 10 public deals this year.