Santander Mexico Prices $4.1bn IPO

Sep 26, 2012

Santander Mexico has priced a MXP52.81bn ($4.11bn) IPO, according to sources familiar with the transaction, coming at the midpoint of its price range and delivering Mexico's largest-ever equity debut. With heavy demand, the issuer could have priced at the top of the range, but left breathing room for investors, many of whom saw fair value at the lower end. In the largest equity sale in LatAm since 2010, the bank priced 1.69bn secondary shares, assuming the exercise of...

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