Servicios Corporativos Javer is seeking to raise about $300 million in an initial public offering, Bloomberg reports. As per investors, the Mexican housing developer’s IPO will lower its debt relative to profit and earn it ratings increases.

Javer is planning to increase the funding by selling about 40% of the company this year. The company’s cash position will exceed its debt if the company raises the $300 million. Javer issued 9.875% notes maturing in 2021 on March 18 as part of an exchange for its 13% bonds due in 2014.

Click here for the story from Bloomberg.