|
|
|
of Chedraui’s stock distributed locally, compared with historical average of 25% |
Two deals in a matter of days hardly constitute a flood but in Mexico’s equity markets they mark the end of a long drought. Last month retailer Grupo Comercial Chedraui and investment fund and brokerage house Actinver launched the country’s first IPOs in nearly two years, with bankers hopeful that more deals will follow, market conditions permitting.
First out of the block was Chedraui, the fourth-biggest supermarket chain in Mexico. It raised Ps5.2 billion ($404 million), including the greenshoe over-allotment option, with the shares priced at Ps34 – the...
