Casa de Bolsa BBVA Bancomer has announced on June 26 the placement of Secondary Public Offering of stock in Grupo Financiero Inbursa, S.A.B. de C.V., for a total of MXN 5,914,154,454.00, including the greenshoe option, on the Mexican Stock Exchange (BMV), equivalent top 47% of the global offering.
The proceeds will be used by the selling shareholder, CaixaBank, to strengthen its capital structure under the recommendations of Basel III.
The transaction was conducted satisfactorily, in a difficult climate for the equity markets - demand exceeded the offering by more than 1.8 times, and more than 760 equity clients and 12 domestic institutional investors participated.
Today the cross will take place on the Mexican Stock Exchange (BMV) and the settlement date will be 1 July 2013.
Grupo Inbursa is one of the leading financial service groups in Mexico. Based on data published by the CNBV as of 31 March, 2013, it is the second largest Mexican-owned financial group in terms of assets, loan portfolio, and equity, and has one of the highest capital adequacy indexes (ICAP) in the country, 19.76% for Banco Inbursa. As of 31 March, 2013, it was Mexico's sixth largest bank overall in terms of total assets and loan portfolio, and had the fourth largest insurance and pension companies in the country in terms of gross premiums written. In the pension fund system, it ranks first in terms of assets in custody, fourth in pensions and eighth in pension fund managements, in terms of total assets managed.
It is a group with a unique model of fully integrated financial services. It operates in four central business areas: commercial banking, insurance, investment banking and asset management. Its main subsidiaries are Banco Inbursa, Seguros Inbursa, Pensiones Inbursa, Operadora Inbursa, Fianzas Guardiana and Inversora Bursátil (the brokerage firm).