Santander Mexico Sets Terms for $3.5 Billion Dual-listed IPO

September 05, 2012 /

Grupo Financiero Santander Mexico, Mexico’s second largest financial services holding company based on net income, announced terms for its IPO.

The Colonia Lomas de Santa Fe, Mexico-based company plans to raise $3.5 billion by offering 1.5 billion shares (100% insider) globally. The US offering includes 235.1 million ADSs, which represent five Series B shares, at a price range of $10.99 to $12.70.

At the midpoint of the proposed range, Grupo Financiero Santander Mexico would command a market value of approximately $16.1 billion. Grupo Financiero Santander Mexico, which was founded in 1991 and booked $2.4 billion in revenue for the 12 months ended June 30, 2012, plans to list on the NYSE under the symbol BSMX.

Santander, UBS Investment Bank, Deutsche Bank Securities and BofA Merril Lynch are joint global coordinators and Barclays, Citi, Credit Suisse, Goldman Sachs, J.P. Morgan, RBC Capital Markets and Itau BBA are joint bookrunners on the deal.

 

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