July 9, 2013 / 5:15 AM / in 5 years

Mexican airport operator OMA to launch share offer Tuesday

MEXICO CITY, July 9 (Reuters) - Mexican airport operator Grupo Aeroportuario del Centro Norte (OMA), a subsidiary of debt-laden construction company ICA, said it would launch on Tuesday a scaled-back version of a stock offering it had postponed in June.

OMA now plans to sell up to 69 million shares compared to the up to 95 million shares it originally announced in June, according to a statement filed with Mexico’s stock exchange.

Market volatility last month pushed the companies to call off the issue.

OMA said in a filing late Monday it expected the offer to raise around 2.671 billion Mexican pesos ($207 million) for ICA. That would price shares around 38.71 pesos each, according to Reuters calculations.

OMA shares closed down 0.76 percent at 41.68 pesos on Monday.

Empresa ICA SAB de CV (ICA) has a number of projects that have been slow to start running and it is looking to raise cash to pay down debt and improve its cash position.

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