Davis Polk advised Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Banco BTG Pactual S.A. – Cayman Branch as joint book-running managers of the several underwriters in connection with the initial public offering by Graña y Montero S.A.A. of 19,534,884 American Depositary Shares, each representing five of its common shares, at a price per ADS of US$21.13. The offering raised gross proceeds of US$412.8 million. The ADSs are listed on the New York Stock Exchange under the symbol “GRAM.”
Graña y Montero S.A.A. is the largest engineering and construction company in Peru by revenues and the largest publicly traded engineering and construction company in Latin America by market capitalization, and has strong complementary businesses in infrastructure, real estate and technical services. The company has an 80-year history of operations and a long track record of successfully completing the engineering and construction of many of Peru’s landmark private- and public-sector infrastructure projects, such as the Lima International Airport and the Peru LNG gas liquefaction plant.
The Davis Polk capital markets team included partner Nicholas A. Kronfeld, associates Alain Kuyumijian and Denise Yablonovich and law clerk Hugo Hernandez-Mancha. The tax team included partner Po Sit and associate Ameya V. Bapat. Counsel Marcie A. Goldstein provided FINRA advice. Inés Velasco was the legal assistant for the transaction. Members of the Davis Polk team are based in the New York office.
