Cementos Pacasmayo SAA, a cement producer based in Peru, announced terms for its IPO on Thursday. The Lima-based company plans to raise $245 million by offering 20 million ADSs at a price range of $11.50 to $13.00. At the midpoint of the proposed range, Cementos Pacasmayo will command a market value of $1.4 billion. Cementos Pacasmayo, which was founded in 1949 and booked $349 million in sales for the 12 months ended September 30, 2011, plans to list on the New York Stock Exchange under the symbol CPAC. J.P. Morgan and Santander have been selected to manage the offering.
The company is currently listed on the Lima Stock Exchange, or the BVL, under the symbols CPACASC1 and CPACASCI1.
