Guatemala’s Industrial Lines up IPO

Guatemala’s Banco Industrial is heard to be preparing an IPO in Mexico, marking a first for a Central American issuer and a possible return to relevance for the Mexican bourse. Industrial has been a regional consolidator, most recently acquiring Banco Quetzal for $3.92bn in August. The bank has the broadest geographic and demographic coverage in Guatemala, and is seeking out acquisitions beyond its borders, Luis Prado, vp and international division manager, told LatinFinance earlier this month. Credit Suisse is rumored to have the IPO mandate.