This excerpt taken from the ICA 6-K filed Sep 26, 2007.
Mexico City, September 26, 2007 Empresas ICA, S.A. de C.V. (BMV and NYSE: ICA) announced that the offering price for its shares and Ordinary Participation Certificates (CPOs) was fixed at Ps. 65.00 per share or CPO. The offering price for the American Depositary Shares (ADSs) is US$23.76 per ADS. Each CPO represents one share; each ADS represents 4 CPOs.
Trading of the newly issued ADSs and shares will begin today, September 26, 2006, on the New York Stock Exchange and the Mexican Stock Exchange (Bolsa Mexicana de Valores). Closing is expected to take place on September 28, 2007.
The registered public offering consisted of 78,260,872 shares, constituting an offer size of approximately US$465 million, excluding the over-allotment option. All the shares have been sold. The international offering, in the United States and outside Mexico, consisted of 46,956,522 shares in the form of CPOs and ADSs. The Mexican offering consisted of 31,304,350 ordinary shares.
The underwriters have a thirty-day option to purchase an additional 11,739,128 shares (equivalent to US$70 million) to cover over-allotments. Of this total, 7,043,478 shares were allocated to the international underwriters, and 4,695,650 shares were allocated to the Mexican underwriters. The shares being sold, including those subject to the over-allotment option, total 90 million shares, and represent approximately 18.1% of ICAs total equity, after giving effect to the offering.
Citigroup Global Markets, Inc. is the global coordinator and bookrunner for the U.S. and international offering. Acciones y Valores Banamex, S.A. de C.V., Casa de Bolsa, Integrante del Grupo Financiero Banamex (ACCIVAL) and Casa de Bolsa Santander, S.A. de C.V., Integrante de Grupo Financiero Santander, are the joint bookrunners for the Mexican offering.
The prospectus for this offering may be obtained by contacting Citigroup Global Markets, Inc., Brooklyn Army Terminal, Attn: Prospectus Delivery Department, 140 58th Street, Brooklyn, NY 11220, or on the Companys website, www.ica.com.mx.
This press release report may contain projections or other forward-looking statements related to ICA that involve risks and uncertainties. Readers are cautioned that these statements are only predictions and may differ materially from actual future results or events. Factors that could cause actual results to differ materially and adversely include, but are not limited to: changes in general economic, business or political or other conditions in Mexico or changes in general economic or business conditions in Latin America, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, increased costs, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms. Readers are referred to the documents filed by ICA with the United States Securities and Exchange Commission, specifically the most recent filing on Form 20-F which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: September 26, 2007