About Esentia Energy Development
Esentia Energy Development, a Mexican natural gas commercializer, has launched an Initial Public Offering (IPO) aiming to raise up to $610 million. The company is the developer, owner, and operator of the largest privately interconnected natural gas system in Mexico, known as the Wahalajara System.
IPO Details
The IPO consists of two parts: an international offering of 112 million ordinary shares in a registration-exempt transaction under the U.S. Securities Act of 1933, as amended, and a simultaneous public offering in Mexico for 112 million shares. The latter will be authorized by the Mexican Commission for Banking and Securities (CNBV) and conducted through the Mexican Stock Exchange (BMV) under the ticker symbol “ESENTIA”.
- Esentia intends to sell 186 million shares in the global offering, while one of its shareholders plans to sell 38 million shares in the same offering.
- The company expects to raise approximately $610 million based on the midpoint of the global offering price range, which is between $2.7 and $3.9 per share.
- The shares will be registered with the National Registry of Securities managed by the CNBV and listed on the Mexican Stock Exchange under the ticker “ESENTIA”.
- As part of the global offering, the company and some of its shareholders have granted underwriters a 30-day option to place up to an additional 33.6 million shares at the offering price.
The Wahalajara System
Esentia operates the Wahalajara System, a strategic infrastructure spanning over 2,000 kilometers, transporting natural gas from the Waha field in Texas to major industrial centers across Mexico.
Key Questions and Answers
- What is Esentia Energy Development? Esentia Energy Development is a Mexican company specializing in natural gas commercialization, development, ownership, and operation of infrastructure.
- Why is Esentia launching an IPO? The primary goal of the IPO is to raise capital, specifically targeting $610 million, to support the growth and expansion of Esentia’s natural gas infrastructure and services in Mexico.
- What is the Wahalajara System? The Wahalajara System is a vast, privately owned and operated natural gas pipeline network developed by Esentia. It extends over 2,000 kilometers, transporting natural gas from the Waha field in Texas to key industrial hubs across Mexico.
- How will the IPO impact Esentia and Mexico? The successful completion of this IPO will provide Esentia with the necessary funds to further develop and expand its natural gas infrastructure, potentially leading to increased energy supply and industrial growth in Mexico.
