• Most Popular
  • Most Shared

Stockholders in Mexico's ICA approve share sale

Thu Jun 25, 2009 9:53pm EDT

Stocks

   

MEXICO CITY, June 25 (Reuters) - ICA (ICA.MX)(ICA.N), Mexico's top building company, said on Thursday its stockholders have approved a plan to sell up to $350 million in shares to finance infrastructure projects.

Stocks  |  Bonds  |  Mexico

ICA said it plans to sell 150 million shares in a local and international stock offer to finance the construction of highways, hospitals, homes and other projects.

Since the global credit crisis slammed emerging markets in October, executives at Mexico's biggest companies have been reluctant to try to sell new shares to investors wary of risk.

Analysts have said the share sale by ICA, which dilutes its capital by 30 percent, shows the company is having trouble in credit markets to finance infrastructure and housing. (Reporting by Gabriela Lopez; Editing Bernard Orr)

Stocks
Bonds
Mexico


More from Reuters

Afghan suicide blast kills eight U.S. civilians

KABUL (Reuters) - A suicide bomber killed eight American civilians in an attack at a military base in southeastern Afghanistan on Wednesday, one of the highest foreign civilian death tolls in an insurgent strike in the eight-year war.

» More Top News
A security camera sits on a building in New York City March 6, 2008. REUTERS/Joshua Lott

Trial run in Times Square

Critics say the Sept. 11 trials will endanger America's most populated city. Will a $75-million New Year's Eve plan hold up as New York's security template?  Full Article 

U.S.
People walk past a branch of Bank of America in New York's financial district April 28, 2009. REUTERS/Brendan McDermid
Rolfe Winkler:

Move your money

Boycotting "too big to fail" banks is a great idea -- so long as investors remember that banks aren't the only ones responsible for the crisis.  Full Article 

    Commentary