IDEAL plans US$790mn capital increase

- Wednesday, June 1, 2011

IDEAL plans US$790mn capital increase

Mexican infrastructure company IDEAL (BMV: IDEAL) plans an increase in its share capital through a 9.2bn-peso (US$790mn) mixed national and international public offering.

IDEAL, owned by Mexican billionaire Carlos Slim, plans to hold a primary offering for two-thirds of the shares and a secondary offering for the remaining third, the company said in a filing with Mexico City's bourse BMV.

An EGM will be held shortly to approve the capital increase.

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The share capital increase will allow the company to expand its base of global investors and improve liquidity. The money raised in the share issue will be used to grow the company, IDEAL said.