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Corporación América Airports sets terms for $600 million IPO

January 16, 2018
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Corporación América Airports, which operates 51 airports worldwide including 36 in Argentina, announced terms for its IPO on Tuesday.

The Buenos Aires, Argentina-based company plans to raise $600 million by offering 28.6 million shares (58% insider) at a price range of $19 to $23. At the midpoint of the proposed range, Corporación América Airports would command a fully diluted market value of $3.4 billion.

Corporación América Airports was founded in 1998 and booked $1.5 billion in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol CAAP. Oppenheimer & Co., BofA Merrill Lynch, Citi and Goldman Sachs are the joint bookrunners on the deal. It is expected to price during the week of January 29, 2018.