Grupo Aeromexico Raises $324 Million in Public Stock Offering

Grupo Aeromexico Raises $324 Million in Public Stock Offering

Grupo Aeromexico said that its initial public offer (IPO) through the Mexican Stock Exchange has been extremely successful. It was 100 percent primary offer. As previously announced, Aeromexico plans to use proceeds from the IPO to continue with the consolidation of its investment plan.

The IPO price was 31 pesos per share ($2.58), for a total of 125,513,903 shares, including 16,371,738 shares from the greenshoe option referred to in the prospectus. The total value of offer, including the greenshoe option, was $324,244,249.

The offer was oversubscribed in a 2 to 1 ratio, which resulted in a balanced allocation between local and international institutional as well as individual investors, who were promoted directly by lead underwriters and a large number of Mexican brokers who took part as members of the underwriting syndicate, achieving a broad distribution of the placement. The overall transaction counted with the participation of over 3,000 investors.

The leading financial groups who jointly participated in this IPO were Acciones y Valores Banamex, SA de CV, Casa de Bolsa, a member of Grupo Financiero Banamex; Actinver Casa de Bolsa, SA de CV, Actinver Financial Group; and Deutsche Securities, SA de CV, Casa de Bolsa.