BMV does not know if there will be an IPO of shares for the sale of some Banamex businesses

The CEO of the Mexican Stock Exchange (BMV)José Oriol Bosch, assured that they have no public information about a possible initial public offering (OPI) that Citi could carry out for the business of Banamex consumer banking and companies in Mexico.

“Make a OPI We have heard about 20% of Banamex in some media, we do not have any public information, but I think it would be very good. If that were the case, it would be welcome and we would be very happy to work with that option”, the manager responded in a conference on the occasion of the issuance of resilience bonds for an amount of 2,985 million pesos.

over a year ago, Citi announced the sale of Banamex’s consumer and business banking division in Mexico. In mid-April of this 2023, the financial institution said that they had two options to divest this business, one would be through an IPO and the other through a private direct sale.

In this sense, José Oriol Bosch considered that listing the company actions or a part of it in the Stock Markets has great advantages, such as having the participation of the “great investing public”.

In fact, he recalled that in the BMV there are some banks listed in the stock market such as Banorte, Inbursa, Regional and Banco del Bajío, to name a few.

“He financial sector In the debt market, both commercial and development banks, it is one of the most active”, the manager emphasized.

He even added that on the stock markets of the United States, Europe and Asia, many of the main banks are also listed with different percentages of their share capital. One case is Citigroup itself.

However, he said in the case of Banamex: “I would love to have something to comment on, but we don’t have anything yet.”

At the same event, Juan Manuel Olivo, director of Promotion and Issuers of the Mexican Stock Exchange, stressed that there are benefits for the investing public to participate in this type of operation.

“We will have to be attentive to the news that they (Citi) continue with the process, respecting the times. If we can add something from the BMV, we are welcome to give this operation an outlet, ”he concluded.