How Does an Argentine Bank IPO Sound?
Source: Beta Finance Yahoo
By: Chris Lange
Before readers think that this may be a hoax, it is not. How would most investors feel about buying into an Argentine financial group that owns a bank? After all, the financial history of Argentina is not currently considered a very bright spot.
Supervielle Group S.A. filed a Form F-1 with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). There were no pricing details mentioned in the filing but the offering is valued up to $100 million, although this number is normally just a placeholder. The company intends to list its American Depositary Shares (ADSs) on the New York Stock Exchange (NYSE) but has yet to decide on a ticker symbol.
The underwriters for the offering are Morgan Stanley, Merrill Lynch, and Raymond James.
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