Colombia Construction IPO Oversubscribed

Colombia’s Construcciones El Condor has received COP323bn ($183m) in orders for its IPO, it says, following Tuesday’s close of the order period. It is scheduled to allocate the transaction – and thus determine the final size of the offer – on Monday. The builder launched the offer of 106m shares March 6, at COP1,415 each, meaning an expected COP162bn sale if a 9m share overallotment is exercised. The sale represents a 20% float. Bancolombia is managing.