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Banco del Bajío relaunches IPO plans

Mexico-based Banco del Bajío SA has filed a request on the Mexican stock exchange BMV for a mixed public offering of shares, according to a notice on the banking regulator CNBV's website.

Bloomberg News earlier reported that the bank renewed its interest in launching an IPO, and could sell shares as soon as May, citing "people familiar with the matter." The move is speculated to generate between $250 million and $300 million.

The bank, headquartered in central Mexico in Guanajuato, had first considered an IPO in 2014.

The bank has now tapped Citigroup Inc. and Morgan Stanley as lead underwriters for the offering, but the plans are not final and could be altered, Bloomberg's sources said.

Banco del Bajío has assets of 182.05 billion Mexican pesos as of Dec. 31, 2016, data from S&P Global Market Intelligence shows.

As of April 6, US$1 was equivalent to 18.77 Mexican pesos.