Grupo Aval Acciones y Valores is planning to raise around $500 million to $1 billion in share sale, Bloomberg reports. The Colombian financial holding firm will sell its stock in New York, but will wait until preferred shares issued last month in Bogota show better performance.
The company intends to use the proceeds from the offering to acquire banks in Central America and the Caribbean. The will purchase deals under consideration in El Salvador, Guatemala and the Dominican Republic.
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