ECM Awaits Santander Mexico IPO

Sep 25, 2012

Santander Mexico is hoping recent supportive signs in the equity markets translate into a successful IPO, when it prices the highly-anticipated MXP49.01bn-MXP56.61bn ($3.72bn-$4.30bn) deal this evening. The well-regarded bank is heard with a book multiple times oversubscribed, with both bankers and investors citing strong equity funds flows last week following European Central Bank and US fed announcements as a positive sign. The close of a $5.17bn tender for shares of Brazil's Redecard could also mean excess funds looking for reapplication...

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

Jan Dehn, Ashmore Investment Management