Market Awaits Credito Real IPO

Oct 17, 2012

Mexico's Credito Real had yet to price an IPO targeting MXP2.8bn ($230m) late Tuesday. The specialist lender is offering 116m shares, assuming a 15% greenshoe, at MXP22.00-MXP26.00 each, meaning a MXP2.78bn transaction if done at the midpoint. About 73% of the deal is planned to be primary shares, with the remainder secondary shares to be sold by investors...

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

Jan Dehn, Ashmore Investment Management