Mexican bank Interacciones raises $327 million in IPO

MEXICO CITY Thu Oct 17, 2013 9:17am EDT

MEXICO CITY Oct 17 (Reuters) - Mexican financial group Interacciones raised 4.209 billion pesos ($327 million) in an initial public offering that priced at the low end of expectations.

Interacciones sold 69 million shares, including the greenshoe overallotment, at 61 pesos each, it said in a filing Wednesday night. The bank and brokerage had expected the shares to price at between 61 pesos and 69 pesos.

Interacciones, which ranks as Mexico's No. 10 bank in terms of total assets, said it would use the funds to expand infrastructure financing operations.

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