Santander Mexico Launches, Aims to top $4bn

Santander Mexico Launches, Aims to top $4bn

Mexico Equity

Santander Mexico has launched its IPO, aiming to raise MXP49.01bn-MXP56.61bn ($3.72bn-$4.30bn), in a sale valuing the bank at more than $17bn, it says. The Mexican unit seen as one of the crown jewels of the troubled Spanish bank has set September 25 for the pricing of 1.69bn shares, including a 15% greenshoe, at MXP29.00-MXP33.50 each. The deal is divided into an international tranche of up to 1.18bn shares in the form of ADRs, representing 80% of the total transaction, and a Mexican portion ma

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