Markets

Blank check for Mexico: Opes Acquisition files for a $100 million IPO

Opes Acquisition, a blank check company formed by Axis Capital Management to acquire a Mexican business, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.

The Mexico City, Mexico-based company plans to raise $100 million by offering 10 million units at a price of $10. At that price, Opes Acquisition would command a market value of $129 million. Each unit consists of one share of common stock and one warrant exercisable at $11.50.

Opes Acquisition was formed in 2017 and plans to list on the Nasdaq under the symbol OPESU. EarlyBirdCapital is the sole bookrunner on the deal. IPO timing has not been determined.

The article Blank check for Mexico: Opes Acquisition files for a $100 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.

Other Topics

IPOs

Latest Markets Videos