Citigroup, the US-based global financial firm that owns Banamex, announced that will carry out an Initial Public Offering (IPO) of its consumer and business banking businesses in Mexicoas part of his strategy for the sale of the firm.
The Initial Public Offering is an operation that is carried out through the stock market, through which a firm puts up for sale some financial asset of a company or a company.. It is also called going public, going public or going public..
It is the process of offering shares of a private company to the public for the first time. Growing companies in need of capital will often use IPOs to raise money.
Other more established firms may use an IPO to allow inside shareholders to exit some or all of their ownership by selling shares to the public..
Initial public offerings can help companies raise the capital they need to unlock their growth needs and offer shareholders greater liquidity alternatives.
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Going public companies often pursue multi-pronged strategies, evaluating mergers and acquisitions in conjunction with an IPO, and evaluating listing options around the world to raise capital and provide optimal shareholder valuation.
Citi reported that it has followed a dual process for its exit from the business, including preparation for a possible IPO, with a commitment to offer maximum value to its shareholders. In this sense, it expects that the separation of the businesses will be completed in the second half of 2024 and that the IPO will take place during 2025.
It should be noted that the Mexican Stock Exchange (BMV) is about to complete six years without an IPO and that its operation must be carried out in the Mexican market..
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