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Grupo Aval Announces Pricing of Initial Public Offering At $13.50 Per ADS

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Grupo Aval Acciones y Valores S.A. (“Grupo Aval” or the “Company”) today announced the pricing of its initial public offering of 1,629,629,640 preferred shares, par value Ps 1.00 per share, issued in the form of American Depositary Shares (“ADSs”), at a price of U.S.$13.50 per ADS. Each ADS represents 20 preferred shares of the Company. The ADSs are expected to begin trading on the New York Stock Exchange on September 23, 2014 under the ticker “AVAL.” All of the ADSs are being offered and sold by Grupo Aval. In addition, Grupo Aval has granted the underwriters a 30-day option to purchase up to 12,222,223 additional ADSs to cover over-allotments, representing 244,444,460 preferred shares at the initial public offering price.

J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as global coordinators and joint book-running managers for the offering. Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus, copies of which may be obtained, when available, from J.P. Morgan Securities LLC, via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, e-mail: prospectus-ny@ny.email.gs.com ,Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146), or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, New York, NY 10014, telephone: 866-718-1649, e-mail: prospectus@morganstanley.com.

 

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