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“Sorry, we go low, but we don’t go that low (yet)!” was the emailed reply from a contact at a leading investment bank in response to Euromoney’s question about whether or not its equity research team covered Banco Supervielle.
In fact, it transpired that only three traditional global investment banks cover Supervielle: Bank of America Merrill Lynch, Morgan Stanley and UBS. The first two ran Supervielle’s IPO and are therefore obliged to have coverage.
From one perspective that might make sense: when it launched its IPO, the bank had 1.9%
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