Ara postpones

25 April 2008

Mexico: Mexican house builder Ara has postponed a secondary offering of its shares, because of stock market volatility. The company was due to sell 42 million shares, worth about MXP 1.97 billion (US$ 175 million) and representing 15% of its equity in May. However, the company now seems likely to wait until after the 2 July presidential elections in Mexico.

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