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Mexican funds hungry for Santander offering

Friday, August 31, 2012

Mexican pension funds look set to pounce on the impending listing of a quarter of Spanish bank Santander's local unit in a deal that could prompt other banks to follow suit.

The Santander Mexico offering, due in late September and on course to be one of the biggest ever on the Mexican stock exchange, could raise between $3 billion and $4 billion.

Santander, Mexico's third-largest bank by assets, plans to sell 6 percent locally with another 18.7 percent offered abroad.

Source: Reuters