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Peruvian financial services firm Intercorp Financial files and sets terms for a $423 million US IPO


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Intercorp Financial Services, which is a leading banking and financial services firm controlled by Intercorp Peru, filed on Wednesday with the SEC to raise up to $423 million in an initial public offering. The company is currently traded on the Lima Stock Exchange under the symbol IFS and closed Wednesday at S$152.54 (US$46.30).

The Lima, Peru-based company plans to raise $423 million by offering 9 million shares (87% insider) at price range of $44 to $50. At the midpoint of the proposed range, Intercorp Financial Services would command a market value of $5.4 billion.

Intercorp Financial Services was founded in 1897 and booked $1.9 billion in revenue for the 12 months ended March 31, 2019. It plans to list on the NYSE under the symbol IFS. Intercorp Financial Services filed confidentially on May 8, 2019. BofA Merrill Lynch, J.P. Morgan, and Itau BBA are the joint bookrunners on the deal.

The article Peruvian financial services firm Intercorp Financial files and sets terms for a $423 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





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