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Santander Mexico says no plans to reopen share offer
September 26, 2012 / 3:57 PM / 5 years ago

Santander Mexico says no plans to reopen share offer

MEXICO CITY (Reuters) - Santander Mexico’s (SANMEXB.MX) more than $4 billion share listing was 4.8 times oversubscribed but the bank has no plans to reopen or extend it, CEO Marcos Martinez said on Wednesday.

The dual listing of close to 25 percent of the shares of Banco Santander’s (SAN.MC) Mexican unit was the second largest in the United States this year behind Facebook (FB.O) and the largest ever of a Mexican company.

Spain’s Santander, seeking extra cash buffers against potential losses from Spain’s property crash, priced the dual share offering at 31.25 pesos per share.

Reporting by Tomas Sarmiento and Joan Magee

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