Alfa Autoparts Unit Nemak Said to Raise $684 Million in IPO
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Nemak SAB sold shares in Mexico’s biggest initial public offering since 2013, according to people familiar with the deal, tapping into growing demand for investments in the nation’s autoparts industry.
The unit of Alfa SAB, based in San Pedro Garza Garcia, Mexico, priced the shares Tuesday at 20 pesos each, said the two people who asked not to be named because the details haven’t been made public. That compares with the company’s forecasted range of 20 pesos to 23 pesos. At 10.75 billion pesos ($684 million), it’s the biggest IPO since Grupo Lala SAB’s $1.1 billion deal in September 2013.