Mexico's Banco del Bajío SA is again thinking about launching an initial public offering on the local stock exchange, and the bank could sell shares as soon as May in a move that may generate between $250 million and $300 million, Bloomberg News reported, citing "people familiar with the matter."
The bank originally drafted plans for an IPO in 2014, but the deal never came to fruition. At that time, Mexican media reports said the company was readying a $150 million stock offering.
Banco del Bajío 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.
More Mexican companies have started to evaluate potential listings amid easing investor concerns related to the U.S. election in 2016. Another local bank, Banca Mifel SA Institución de Banca Múltiple Grupo Financiero Mifel, is also analyzing an IPO, other sources recently told Bloomberg.
Spokesmen for both Citi and Morgan Stanley did not comment on Banco del Bajío's IPO plans, according to the report.