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Slim Retailer Clinches $950m IPO

Feb 8, 2013

Grupo Sanborns has priced a MXP12.09bn ($950m) IPO, landing near the low end of the price range. Demand for the deal was heard to be about 2x. The retail operation being carved out of Carlos Slim's Grupo Carso priced 431.7m shares, assuming a 15% greenshoe, at MXP28.00 each, versus a MXP27.00-MXP32.00 range....

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

Jan Dehn, Ashmore Investment Management