Argos Picks Banks

Colombia’s Cementos Argos has named JPMorgan and HSBC to lead a planned equity follow-on, according to sources familiar with the deal. Bank of America Merrill Lynch, Credit Suisse and Itau are also on the transaction. Details and timing remain to be determined, but the maximum size approved recently by shareholders is 250m shares, which would raise COP2.18trn ($1.19bn) at the most recent COP8,700 closing price.