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Mexico's Banco de Bajio IPO about four times oversubscribed: sources
June 7, 2017 / 11:00 PM / in a month

Mexico's Banco de Bajio IPO about four times oversubscribed: sources

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The logo of Banco Bajio is pictured in Mexico City, Mexico June 7, 2017.Edgard Garrido

MEXICO CITY (Reuters) - Mexican lender Banco del Bajio, due to debut on the local stock exchange on Thursday, will place its shares at the upper end of the planned price range, and demand for the stock is around four times oversubscribed, four market sources said on Wednesday.

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Banco del Bajio, which is based in the central city of Leon, said last month it hoped to raise around $490 million in the country's second new stock offering in 2017, with a price range of between 29 pesos and 32 pesos ($1.59-$1.75) per share.

None of the sources, who spoke on condition of anonymity, were involved in placing the initial public offering.

Reporting by Sheky Espejo and Roberto Aguilar; Editing by Leslie Adler

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