Pinfra Equity Sale Seen Close to Launch

Promotora y Operadora de Infraestructura (Pinfra) is heard beginning investor pre-education meetings for its equity follow-on, ahead of a formal launch as soon as next week or the following week. The Mexican infrastructure firm is expected to raise in the neighborhood of $300m-equivalent. Primary proceeds would go toward general corporate purposes, including greenfield and brownfield construction. The deal will also include secondary shares sold by members of the Penaloza family and various investment funds. JPMorgan, Credit Suisse, and Ixe are managing. Pinfra shares closed Friday at MXP62.26 ($4.62).