Markets

Argentinian bank Grupo Supervielle sets terms for $250 million IPO

Grupo Supervielle, an Argentinian bank with over $2 billion in assets, announced terms for its IPO on Tuesday.

The Buenos Aires, Argentina-based company plans to raise $250 million by offering 20.8 million ADSs (20% insider) at a price range of $11 to $13. At the midpoint of the proposed range, Grupo Supervielle would command a fully diluted market value of $798 million. The bank also plans to list its shares in Argentina.

Grupo Supervielle was founded in 1887 and booked $435 million in net revenue for the 12 months ended March 31, 2016. It plans to list on the NYSE under the symbol SUPV. Morgan Stanley and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of May 16, 2016.

The article Argentinian bank Grupo Supervielle sets terms for $250 million 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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.


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

In This Story

SUPV

Other Topics

IPOs

Latest Markets Videos