Mexicans Press Ahead with IPOs

Mexicans Press Ahead with IPOs

Mexico Equity

The market backdrop that has challenged bond issuers appears not to deter ECM hopefuls, at least in Mexico, with Grupo Lala moving to price a MXP13.0bn ($990m) IPO October 15, followed by Grupo Interacciones the next day for MXP4.0bn. Lala, the dairy and food products company, is offering 444m primary shares at MXP23.50-MXP27.50, meaning a MXP13.02bn deal at the midpoint if a 15% greenshoe is included. The base deal would result in a 19% free float, with the controllers’ holding going from 69% t

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