Santander Mexico Said to Seek Up to $4 Billion in IPO

August 16, 2012

Bloomberg, 8/16/2012

Banco Santander SA (SAN)’s Mexican unit plans to raise as much as $4 billion in a record initial public offering for Latin America’s second-biggest economy, according to two people familiar with the matter.

Grupo Financiero Santander Mexico SAB, the nation’s fourth- largest lender by outstanding loans, will probably sell the shares after the first week of September, said the people, who asked not to be identified because the information isn’t public. The Mexico City-based bank may sell a 25 percent to 30 percent stake, one of the people said.

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