News

Graña y Montero, lists American Depositary Shares on the New York Stock Exchange

Today our Company: Graña y Montero S.A.A., the largest engineering and construction company in Peru, listed its American Depositary Shares ("ADSs") on the New York Stock Exchange (NYSE), after a successful initial public offering amounting to approximately US$413 million in gross proceeds.

The Company also granted the underwriters an option to purchase ADSs up to approximately US$62 million in gross proceeds, exercisable within 30 days.

The offering consisted of 19,534,884 ADSs, each ADS representing five common shares. The offering price was US$21.13 per ADS. As a result of the offering, Graña y Montero began trading on the NYSE under the ticker symbol 'GRAM'.

José Graña Miró Quesada, President of Graña y Montero, said that the Company plans to use the net proceeds of the offering to fund capital expenditures, including potential investments and acquisitions, as well as other general corporate purposes. 'We estimate that approximately 60% of the net proceeds will be invested in infrastructure projects, 10% in the acquisition of land for our real estate segment, 20% on potential acquisitions, and the remainder will be used for other general corporate purposes' he said

Credit Suisse, J.P. Morgan and Morgan Stanley have acted as the Global Coordinators; BTG Pactual has acted as a Joint Bookrunner; and BBVA Continental, Credicorp Capital and Interbank, have acted as Co-managers in the offering.

A copy of the prospectus relating to the offering may be obtained on the website of the U.S. Securities and Exchange Commission at www.sec.gov


Date: July 24, 2013