Mexico Pharma IPO Joins BMV Reopening

An IPO for Mexican pharmaceuticals distributor Genomma Lab Internacional is heard in the works, targeting a raise above $300m. IXE and Santander are running the deal locally, with Merrill Lynch and UBS leading the international effort. Up to 184m shares will be sold, including a greenshoe, or 33% of the capital. Timing should be roughly in line with the BMV’s own IPO, which is slated to price mid-June. The latter could raise $440m and represents a significant landmark for Mexican equity markets. The initial range for the deal via BBVA and UBS is MXP14.00-MXP19.00, Dealogic says.