Argentina’s Despegar and Molino Canuelas have hired banks for their upcoming IPOs, two equity capital markets bankers told LatinFinance.
The online travel agent Despegar has picked Morgan Stanley and Goldman Sachs to manage an equity offering in the second half of the year, both sources said. The flour and oil producer Molino Canuelas has selected Itau BBA, JPMorgan and UBS to lead an equity sale, they said.
The two IPOs will likely involve share sales on the New York Stock Exchange (NYSE), the sources said. Both companies are understood to have submitted confidential securities filings with the US Securities Exchange Commission (SEC).
Despegar co-founder and CEO Roberto Souviron announced last year his intentions to take the company public on the NYSE. The company is likely to sell at least 10% of its share capital in the offering.
As many as six IPOs could come from Argentina in the next 12 months, as yield-hungry equity investors devote increased allocations to emerging market stocks, the sources said.