December 6, 2012 / 12:40 AM / 5 years ago

Mexico stock exchange head sees at least 5 IPOs in 2013

MEXICO CITY, Dec 5 (Reuters) - At least five new companies will join Mexico’s bourse next year with initial public offerings, the president of the country’s stock exchange said on Wednesday.

“We have up until this point, five initial public offerings (IPOs) for the upcoming year, but there may be more,” said Luis Tellez, the president of the Bolsa Mexicana de Valores (BMV), at a press conference.

Tellez said Pepsi-bottler Geupec, which is now known as Organizacion Cultiba, would go ahead with a share offering, but he declined to give details on the other companies.

Last month the company said it would offer nearly 90 million shares in an initial offering that the company expected to raise $421 million (5.5 billion pesos).

On Tuesday, Credit Suisse bankers in Sao Paolo said a couple of “emblematic” IPOs would be launched in Mexico next year but declined to elaborate on the companies involved.

In September, Spain’s Banco Santander raised $4 billion by listing shares of its Mexican unit on Mexican and U.S. bourses. The offering was the largest ever of a Mexican company.

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