Mexico's Lala says greenshoe option exercised on IPO

Reuters

MEXICO CITY, Oct 31 (Reuters) - Mexican dairy producer GrupoLala said on Thursday underwriters had exercised agreenshoe overallotment option on its stock after its initialpublic offering earlier this month raised more than $1 billion.

Lala said the overallotment was worth some 1.833 billionpesos ($141.01 million) to the company, which launched itsshares on the Mexican stock exchange just over two weeks ago.

The stock was issued at 27.50 pesos per share, the same asthe IPO pricing, the company said in a statement.

Lala has said it plans to expand outside of Mexico andCentral America and invest in technology and plants to cutcosts.

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