Citigroup Aims to Raise Over $3 Billion Through IPO of Mexican Bank
Citigroup is reportedly planning an initial public offering for Grupo Financiero Banamex, a major bank in Mexico. The company aims to raise more than $3 billion through the IPO and has enlisted several Wall Street banks as underwriters. This move could mark one of Citigroup's significant exits from its international banking operations. The potential IPO highlights Citigroup’s strategy to divest non-core assets while focusing on core markets in North America. Banamex is a key asset, having been acquired by Citi during the 2008 financial crisis and later integrated into its Latin American business.
Topics: Grupo Financiero Banamex investment banking IPO Mexico