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Santander Mexico seeks up to $4 billion in IPO

Thursday, August 16, 2012

Banco Santander’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 México the nation’s fourth-largest lender by outstanding loans, will probably sell the shares after the first week of September, said the people.

The Mexico City-based bank may sell a 25 percent to 30 percent stake, one of the people said.

Source: Bloomberg