said May 10that it and some of its shareholders commenced its initial public offering ofits class B shares as part of a global offering.
The offeringentails 104,166,667 shares that can be represented by American depositoryshares. All told, the Argentine financial group is offering 83,333,333 class Bshares, while selling shareholders are offering 20,833,334 class B shares. EachAmerican depositary share represents five shares, the company said.
The companyexpects the IPO price of the ADSs in its international offering to fall between$11.00 and $13.00 apiece, and for the IPO price of the class B shares in itsArgentine offering to come in between $2.20 and $2.60 apiece. The shares andADSs are both expected to trade under the ticker symbol SUPV on the MercadoAbierto Electrónico and NYSE, respectively.
Inconjunction with the proposed offering, international underwriters will havethe option to buy up to 15,625,000 additional class B shares represented byADSs.
MorganStanley & Co. LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. serveas joint book runners and joint global coordinators while Raymond James &Associates, Inc. acts as co-manager in the offering.
Grupo Supervielleis the parent company of BancoSupervielle SA.