por admin » Jue Ene 19, 2012 1:37 pm
Se demora la salida a bolsa de Andino Investment Holdings SA (AIHC1)
Peru Port Operator Andino Investment Halts IPO for Second Time on Price
By Alex Emery - Jan 19, 2012 12:32 PM ET .
Andino Investment Holding SA (AIHC1), a Peruvian port operator, delayed its initial public offering for a second time and will modify the proposed price for its shares.
A new date and price for the IPO, which initially was set for Jan. 17, will be announced “in coming days,” Andino said in a statement posted on the Lima securities exchange’s website yesterday. The company didn’t specify the reason for the delay.
“The current global situation is unclear, so it wasn’t good timing for an IPO,” Javier Frisancho, a trader at Lima- based brokerage Kallpa Securities SAB, said today in a telephone interview. “They’re going to have to cut the price for the retail investors.”
Andino planned to raise about $60 million in Peru’s first IPO in more than a year to help prepay part of an $85 million loan from Goldman Sachs Group Inc. (GS) and invest in a $250 million expansion of the northern coastal port of Paita, Chief Executive Officer Carlos Vargas said in a Jan. 12 interview. Europe’s sovereign debt crisis has hurt demand for initial stock sales, with companies such as Siemens AG’s Osram AG lighting unit and the chemical company Evonik Industries AG delaying IPOs last year.
Andino, based in Lima, had registered to sell 15 million to 35 million shares for 4.70 soles each, according to the prospectus published on the Lima exchange’s website. Lima-based brokerage Credibolsa SAB is managing the sale.
Vargas and Credibolsa Chief Executive Officer Jorge Monsante didn’t immediately respond to telephone calls and e- mails seeking comment.
‘Modify strategies’
The IPO would be Peru’s first since fishmeal producer Pesquera Exalmar SAA (EXALMAC1) sold $100 million of stock in November 2010, according to data compiled by Bloomberg. Peru’s port operators will invest $3 billion in expansion projects over the next four years to handle rising metals, gas and fishing exports, according to the country’s port authority.
Mining, construction and agricultural companies may sell shares for the first time this year to fund expansion projects, Francis Stenning, chief executive officer of Bolsa de Valores de Lima, which operates the exchange, said in a Dec. 20 interview.
Heavy equipment distributor Ferreyros SA announced plans to sell new shares this quarter, while cement producer Cementos Pacasmayo SAA (CPACASC1) said it will list American depositary receipts in New York on Feb. 2. Peru’s government plans to sell stakes this year in state companies Electroperu SA and Petroleos del Peru on the Lima exchange, according to Hector Rodriguez, director of state investment promotion agency Proinversion.
“After this setback, the other companies are going to have to modify their strategies,” Jose Luis Bustamante, head of trading at Lima-based brokerage Cartisa SAB, said in a telephone interview. “It’s not a good sign.”