MEXICO CITY-Nuevo Grupo Iusacell S.A. de C.V. announced two offerings.
The first is for the exchange of its full-voting series V American Depository Shares and shares on a one-for-one basis for all series D and L ADSs and shares of Grupo Iusacell S.A. de C.V.
The second offer is to give public shareholders of Old Iusacell the right to purchase additional New Iusacell series V ADSs or shares at a ratio of 0.194 series V ADSs or shares for every Old Iusacell series D or L ADS or share tendered in the exchange offer, which expired at 6: 00 p.m. EST on Aug. 4.
New Iusacell also announced the offer of 12.5 million series V ADSs by it and two of its principal shareholders, Bell Atlantic Corp. and the Peralta Group, at a price of $10.50 per ADS.
