Yahoo Finance Aeromexico Investors Seek Up to $500 Million in US IPO
(Bloomberg) -- Apollo Global Management Inc. and other investors are seeking to raise as much as $500 million in an initial public offering of Grupo Aeromexico SAB, the Mexican carrier that emerged from bankruptcy protection more than two years ago, according to people familiar with the matter.
Most Read from Bloomberg
Dozens of CVS Generic Drug Recalls Expose Link to Tainted Factories
Fed’s Higher-for-Longer Stance Hits Firms That Expected Rate Cut
The alternative asset manager, which owns about 22% of Aeromexico, and other selling shareholders are aiming to raise about $400 million to $500 million in the Mexico City-based carrier’s listing, said the people, who asked not to be identified discussing confidential information.
The timing for launching the IPO remains unclear amid the volatility across Mexican markets following elections, one of the people said.
Representatives for Aeromexico and Apollo declined to comment.
Aeromexico is working with Barclays Plc, Morgan Stanley, JPMorgan Chase & Co., Evercore Inc. and Apollo Global Securities on the IPO, according to a preliminary prospectus filed May 13.
Aeromexico filed for Chapter 11 protection in 2020 amid a downturn in air travel due to the Covid-19 pandemic. Apollo ended up with an equity stake in the firm after helping keep it afloat amid the restructuring.
Aeromexico, which also counts Delta Air Lines Inc. as a shareholder, is Mexico’s only remaining legacy airline and is eyeing a return to public markets two years after delisting from the local stock exchange.
--With assistance from Carolina Millan.
Most Read from Bloomberg Businessweek
China’s Economic Powerhouse Is Feeling the Brunt of Its Slowdown
As Banking Moves Online, Branch Design Takes Cues From Starbucks
Food Companies Hope You Won’t Notice Shortages Are Raising Prices
©2024 Bloomberg L.P.
