UPDATE 1-Cemex launches Colombia IPO of Latam unit
BOGOTA, Oct 29 (Reuters) - Mexico's top cement maker Cemex officially launched on Monday the Colombian initial public offering of its Latin American unit, with books open from Oct. 29 to Nov. 6, the company said.
Cemex has set a range of between 11,000 and 13,500 Colombian pesos ($6.03 to $7.40) per share for the offering of about 24 percent of its Cemex Latam Holdings unit.
The minimum amount of shares it will offer will be 50 million, it said in a notice printed in Colombian media.
The IPO could raise nearly $1 billion dollars.
Cemex was hurt by the 2008 U.S. housing meltdown shortly after paying $16 billion to buy Australian peer Rinker. It has been digging itself out of deep debt for the past three years.
Cemex Latam Holdings, which includes Cemex's cement and ready-mix assets in Colombia, Panama, Costa Rica, Brazil, Guatemala, Nicaragua and El Salvador, will offer 126.6 million of its common shares, the company has said.