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Obrascon Huarte Lain (50ML)


Thursday 11 November, 2010

Obrascon Huarte Lain

Mexican Public Offering

RNS Number : 0119W
Obrascon Huarte Lain, S.A.
11 November 2010

London Stock Exchange


Madrid, November 11th 2010



Ref.: Notification of Significant Event: Mexican Public Offering



Dear Sirs,



The company, OBRASCON HUARTE LAIN, S.A. (OHL), in compliance with current legislation, hereby reports the following Significant Event:


Following the significant event published on October 22nd 2010, OHL announces that OHL Concessions OHL, SL, 100% subsidiary of OHL and OHL Mexico, SAB de CV (Before OHL Concessions Mexico, SA de CV) ("OHL MEXICO"), a subsidiary of OHL Concessions, Ltd., have signed the corresponding placement and share purchase agreement for the realization of a global offer for the sale and subscription of shares of OHL MEXICO, consisting in an initial public offering in Mexico through the Mexican Stock Exchange and a private mix offering in the United States of America and other international markets, coordinated by Credit Suisse, Santander, BBVA Bancomer and UBS, whose key terms are:

• The final placement price is of 25 pesos per share (equivalent to 1.48 Euros per share). The placement price implies a valuation of the company OHL MEXICO, before the capital increase, amounting to 28.1 billion pesos (equivalent to 1.7 billion euros). 

• According to the terms of the offer have been placed: 


·    368,225,185 new shares corresponding to the capital increase committed by OHL MEXICO. 

·    21,197,798 old shares sold by OHL Concessions, SL.

·    In addition, if the financial institutions placers exercised the "green shoe" within the next 30 days, there would be an additional placement of up to 58,413,447 additional old shares, so that the total number of shares placed after the "green shoe" would amount to 447,836,430.

• The total volume of the operation, before the "green shoe", is of 9.7 billion pesos (equivalent to 575 million Euros). In case of exercising the "green shoe" the transaction would amount to 11.2 billion pesos (equivalent to 662 million Euros). 

• The shares of OHL MEXICO are expected to start trading on the Mexican Stock Exchange today, November 11th 2010, closing and settling the transaction on November 16th 2010.

• The stake of OHL Concessions, SL in OHL MEXICO has been fixed at 73.9% after the transaction.  in case the "green shoe" is exercised by the financial institutions this stake would be of 70%. 

The shares of the Global Offering have been registered in the National Registry of Securities maintained by the CNBC (Comisión Nacional Bancaria y de valores) and the Prospectus for Public Offering in Mexico is available on the website of the Bolsa Mexicana de Valores and the CNBV. 


Yours faithfully,



José María del Cuvillo Pemán
Vice-Secretary of the Board of Directors


This information is provided by RNS
The company news service from the London Stock Exchange

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