NEWS EQUITY: Staging a comeback

Jul 1, 2014

Mexicans are taking advantage of investors’ improving view on LatAm equities, but issuers must still proceed with caution. By Katie Llanos-Small

Mexican companies found equity markets warming to them in the second quarter, with Alsea, Fibra Prologis and Fibra Uno all closing successful capital raises in June.

The deals follow a sour start to the year for Latin America’s equity markets, spurred by an investor stampede out of emerging market funds — a trend that has since ended.

"Equity outflows from emerging markets in the first quarter were somewhat exaggerated both in quantity and relative to recent history, and we’ve started to see a rebound in the second quarter, a kind of pendulum swing, especially in LatAm," said Mariano Espada, head of equity capital markets for Latin America at UBS.

"Some of that is being channeled, as we speak, into specific emerging market countries. That’s one of several reasons why...

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