Caixa Nabs MXP12.5bn from Inbursa Offer

Mexico’s Grupo Financiero Inbursa’s all-secondary follow-on equity sale raised MXP12.5bn ($947m) Tuesday. CaixaBank sold 482m shares, including a 15% greenshoe, at MXP26 on Tuesday. That level was a 1.21% discount to Tuesday’s closing price, and matched the price at which Caixa sold a 3.7% stake in the firm to Carlos Slim’s Inmobiliaria Carso earlier this month. Details on investor demand were not available Tuesday evening. Credit Suisse, Inbursa and UBS were global coordinators, with BTG Pactual bookrunner on the international portion, and Citi and BBVA on the Mexican sale.