January 1, 2011
Snickers had greeted Bolsa officials past predictions of 3-5 IPOs "next year" and the LatAm field was dominated by Brazil.
With no IPOs since mid-2008, the market came back to life in May 2010. Size is still an issue, at least compared to Brazil, but Mexico saw five new floats in 2010, jump started by a brave family-owned supermarket chain.
Grupo Comercial Chedraui raised 5.23 billion pesos, pricing at 34.00 pesos, toward the lower end of its 32.00 to 40.00 peso range at the May sale. The retailer sold 139.4 million primary and 15.3 million secondary shares, and the total includes a 19.9 million share overallotment. Mexican investors accounted for 54.8 million units,
Investors could be forgiven for forgetting that Mexico had an equity market, or at least one with new issuers.