Hoteles City Express Announces the Exercise of the Overallotment Option in Connection with its Follow-On Equity Offering
MEXICO CITY, Oct. 24, 2014 /PRNewswire/ -- Hoteles City Express, S.A.B. de C.V. ("Hoteles City Express" or the "Company") (BMV: HCITY), the leading limited-service hotel chain in Mexico, announced today that the underwriters exercised the overallotment option for 9,696,093 shares in connection with its follow-on equity offering carried out on October 8, 2014.
Including this overallotment option, the follow-on offering resulted in gross proceeds to the Company of a total of Ps.2,577.9 million through a public offering in Mexico, as well as a private offering in the United States pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act") and outside the United States and Mexico pursuant to Regulation S under the Securities Act.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, and it does not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. Securities may not be offered or sold in the United States unless they are registered or exempt from registration under the Securities Act. Any public offering of securities in the United States must be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and its management, as well as its financial statements. This press release is formulated in accordance with Rule 135(e) of the Securities Act.
About Hoteles City Express:
Hoteles City Express is considered the leading and fastest-growing limited-service hotel chain in Mexico, in terms of number of hotels, number of rooms, geographic presence, market share and revenues. Founded in 2002, Hoteles City Express specializes in offering high-quality, comfortable and safe lodging at affordable prices via a limited-service hotel chain geared towards the domestic business traveler. With 90 hotels in operation located throughout Mexico, Costa Rica and Colombia, Hoteles City Express operates three distinct brands: City express, City express Suites and City express junior to serve different segments of its target market. In June 2013, Hoteles City Express successfully completed its IPO and began trading on the Mexican Stock Exchange under the ticker symbol "HCITY." In October 2014, Hoteles City express completed a follow-on equity offering that is expected to allow it to accelerate its growth for the coming years.
For more information please visit our Investor Relations website: cityexpress.com/en/inversionistas
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SOURCE Hoteles City Express, S.A.B. de C.V.
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