Peru Port Operator Pushes Back Equity Pricing

Andino Investment Holding is readying an IPO of as much as $60m-equivalent for Thursday, after initially scheduling the auction for today. The port and logistics operator is looking to sell 15m-30m shares. It has set a PES4.70 minimum price, and is heard likely to sell at around PES5.10 each. If the full amount is sold at this price, the issuer is could raise PES153m ($57m). Proceeds would be used to reduce debt and for expansion projects. BCP is managing the sale. Andino borrowed $85m from Goldman Sachs last year to purchase fellow port operators Neptunia and Agencia Maritima.