Findep IPO Holds Steady

Findep IPO Holds Steady

Equity

Financiera Independiente, a microfinance institution based in Mexico, priced its IPO late Wednesday at MXP24.00, slightly below the MXP26.00 midpoint. The initial range was MXP22-MXP30. The deal traded well, closing its first day at MXP24.13, despite a significant sell-off in regional equity indices, including a 2.07% drop in the Bolsa. The deal suffered from a 15% drop in the stock of Compartamos, a recently IPOed microfinance working capital lender, in the last week of October. Since it is the

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