Cemex LatAm Pushes Ahead with IPO

Cemex LatAm has been given regulatory authorization for its Colombia IPO, a transaction expected to raise more than $750m. The carve-out of the Mexican cement maker’s non-Mexican LatAm assets is heard aiming to finalize pricing the week of November 5. Details on the exact size or number of shares are not yet available. Bank of America Merrill Lynch, BBVA, Citi and Santander are managing the sale. The deal comes as part of a plan to sell assets to meet debt maturity payments. Cemex in September got creditors to extend to 2017-2018 more than $7.2bn in debt that had been due in 2014, and followed up with a $1.5bn bond sale earlier this month.