Interjet Delays IPO

ABC Aerolineas, the holding company for Mexican budget airline Interject, has indefinitely delayed its IPO after citing market conditions. No time has been given for a possible return to market. Buyside sources say that the company received little interest from international investors, with only local accounts responding positively. The company had been looking to price 98.8m primary shares and 42.3m secondary shares at a range of MXP21 to MXP25 for a potential size of MXP3.2bn if priced at the mid range. Proceeds from the primary portion were earmarked for contingencies, strategic investments, aircraft acquisitions and facility improvements. The founding and controlling Aleman family had been the selling shareholder. JPMorgan was lead.