Mexico’s twelfth largest bank Banregio Grupo Financiero has raised $175 million in an initial public offering (IPO), The Wall Street Journal reports. The firm sold around 64 million shares on the Mexican Stock Exchange.
Grupo Financiero’s Bancomer and Citigroup’s Banamex unit were appointed as the lead book-runners for the offering. The sale was 2.4 times oversubscribed, adds Bloomberg.
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