Aeromexico to Go Public

Mexican airline Aeromexico plans to float at least a 15% stake on the Mexican stock market, according to local news and wire reports citing remarks from CEO Andres Conesa. The executive says the deal could come before the Easter holidays, and would be offered only in Mexico. Aeromexico is looking to raise capital to partly fund its investment project, which calls for it to invest MXP16bn over the next two years. About two-thirds would come from the sale and the company’s own resources, with the rest coming from a $314m loan from Brazilian exim bank Banco Nacional de Comercio Exterior de Brasil used to buy Brazilian airplanes. Actinver, Banamex, and Deutsche Bank are reported to be among the banks managing the sale. It would be Mexico’s first IPO since OHL Mexico’s MXP11.2bn sale in November.