BEST PRIMARY EQUITY ISSUE

Jan 1, 2011

Investors could be forgiven for forgetting that Mexico had an equity market, or at least one with new issuers.

Snickers had greeted Bolsa officials’ past predictions of 3-5 IPOs "next year" and the LatAm field was dominated by Brazil.

With no IPOs since mid-2008, the market came back to life in May 2010. Size is still an issue, at least compared to Brazil, but Mexico saw five new floats in 2010, jump started by a brave family-owned supermarket chain.

Grupo Comercial Chedraui raised 5.23 billion pesos, pricing at 34.00 pesos,...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management