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EMPRESAS ICA SOCIEDAD CONTROLADORA, S.A. DE C.V., LAUNCHES INAUGURAL EUROBOND FINANCING

 LONDON, Jan. 26 /PRNewswire/ -- Empresas ICA Sociedad Controladora, S.A. de C.V. ("ICA"), announced its inaugural Eurobond financing to be launched today under the lead management of Lehman Brothers International and Serfin Securities (formerly known as OBSA International).
 Founded in 1947, ICA is the largest construction company in Mexico and provides a full range of engineering and construction services to the public and private sectors in Mexico. ICA has a long history of working closely with the Mexican government and has played a major role in the development of Mexico's infrastructure -- both during its first four decades of operation and, in recent years, in conjunction with the current Salinas Administration's incentives towards private sector funding of large infrastructure projects. ICA's subsidiaries operate in five main segments: construction, manufacturing, hotels, construction aggregates and concessions.
 ICA went public in April of 1992 with an equity offering of 25 million shares. It is one of only four Mexican companies to be fully registered with the U.S. Securities and Exchange Commission as a result of this initial public offering. With total assets of US$2.6 billion, ICA ranks as the sixth largest company listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) as of June 30, 1992.
 The US$200 million bond offering is structured as a five-year security, payable semi-annually. It was increased from an initial size of US$150 million, will be listed on the Luxembourg Stock Exchange and is also being privately offered to U.S. investors under Rule 144A. Net proceeds will be used to reduce short-term debt.
 -0- 1/26/93
 /CONTACT: Jose Luis Guerrero, chief financial officer of ICA, in Mexico City, 010-525-272-9991; or Ellen Miller, director of Lehman Brothers International, in London, 4471-601-0086, for ICA/
 (ICA)


CO: Empresas ICA Sociedad Controladora, S.A. de C.V. ST: IN: CST SU: FNC

GK-OS -- NY051 -- 9046 01/26/93 11:53 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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