Mexican Lender Prices IPO at Low End

Mexican Lender Prices IPO at Low End

Mexico Equity

Mexico's Credito Real has priced a MXP2.56bn ($200m) IPO at the bottom of the range, with the new shares trading down 3.1% in their first session. The offer from specialist in payroll, group microbusiness and durable goods loans was to be a test for small and mid-caps’ issuing prospects following the $4bn Santander Mexico IPO. Credito Real priced 116m shares late Tuesday, assuming a 15% greenshoe, at MXP22.00 each, versus a MXP22.00-MXP26.00 range. Primary shares represented 76% of the sale, wit

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