Pinfra Preps Follow-on

Promotora y Operadora de Infraestructura (Pinfra) is preparing an equity follow-on, it says. The Mexican infrastructure firm plans a domestic and international offering of both primary and secondary shares, though the size remains to be defined. The prospectus estimates it could be worth 17%-19% of the company. Pinfra is raising funds for general corporate purposes, including Greenfield and brownfield construction. The secondary share sellers include members of the Penaloza family and various investment funds. JPMorgan, Credit Suisse, and Ixe have been named as managers, according to the prospectus. The timing remains to be determined. Pinfra shares closed Friday at MXP62.73 ($4.76).