Peruvian Port Operator Postpones IPO

LatAm will have to wait a bit longer to start this year’s IPO calendar, after Peru’s Andino Investment Holding (AIH) postponed a $50m-$60m-equivalent sale that had been scheduled for Thursday. The port and logistics operator says it will announce a new pricing date “in the next few days.” AIH is looking to sell 15m-30m shares and had established a PES4.70 floor. With the shares expected to price around PES5.00-PES5.10, PES153m ($57m) sale was expected. 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.