Mexican mining and infrastructure company Grupo Mexico priced an initial public offering of its rail unit, GMexico Transportes, at 31.50 pesos per share, according to two sources, raising around 19 billion pesos (USD 998 million).
The company sold 603 million shares, including overallotment, according to a filing with the Mexican stock exchange. The IPO will help Grupo Mexico to fund the purchase of Florida East Coast Railway. In 2016, GMexico Transportes had sales of USD 1.77 billion.
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