Market Awaits Credito Real IPO

Market Awaits Credito Real IPO

Mexico Equity

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 including Nexxus Capital - the largest holder with 18.3% - and Grupo Kon. Credito Real was aiming to place half the deal in Mexico and half i

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