J.P. Morgan Securities Inc., the investment banking unit of J.P. Morgan & Co., has led an initial public offering of 3.75 million American Depositary Shares for the Mexican pharmaceutical, health and food products corporation, Grupo Casa Autrey.

In a statement released Tuesday, Morgan said each share represents four ordinary shares in the Mexican group. The shares were priced at $17 each and began trading on the New York Stock Exchange Tuesday.

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