Colombian Builder Sets IPO Price

Colombia’s Construcciones El Condor plans to raise COP150bn-COP162bn ($85m-$91m) in its IPO, it says. The engineering and construction company has set a price of COP1,415 per share. As per Colombian regulations, the 2-week sale period will open once an official notice is published, as soon as today. The 106m shares to be sold represent an 18.75% float, which would reach 20% if a 9m overallotment is exercised. Bancolombia is managing the transaction.