May 1, 2006
Either investors think it's time to give Argentine companies another chance, or their memories are short. Less than five years after Argentine financial markets tanked, Banco Macro Bansud, the country's fourth-largest bank, has sold equity to yield-hungry investors through a mixed offering on the New York and Buenos Aires stock exchanges that raised $306.78 million.
Jorge Brito, Banco Macro Bansud's CEO and chairman, says the offering proves that "there is money for Argentine companies with good stories to tell." Brito adds that Macro's sale signals the revival of Argentina's stock market, which languished in the wake of the country's 2001-2002 economic crisis. "It is just a question of tim
Financial group Banco Macro Bansud tested Argentina's long-dormant local equity market in March, only to find a much bigger audience on Wall Street.