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Latin American share sales strongest since 2008
July 19, 2013 / 2:06 PM / 4 years ago

Latin American share sales strongest since 2008

LONDON, July 19 (Reuters) - The amount of money raised by public sales of shares in Latin America so far this year is at its highest since 2008, Thomson Reuters data showed on Friday.

This week’s $2.2 billion offering from Mexican bank Grupo Banorte helped push the volume of equity capital markets (ECM) activity in Latin America so far this year to $22.6 billion, the highest at this point in any year since the run-up to the financial crisis and double that a year ago.

Mexico has accounted for 39 percent of activity in the region, second only to Brazil on 44 percent.

Brazil’s largest private-sector bank Itau Unibanco leads the rankings for Latin America ECM underwriting, with Credit Suisse in second place.

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