Aeromexico investors seek US$500mil IPO

The timing for launching the IPO remains unclear amid the volatility across Mexican markets following elections. — Bloomberg

MEXICO CITY: Apollo Global Management Inc and other investors are seeking to raise as much as US$500mil in an initial public offering (IPO) of Grupo Aeromexico SAB, the Mexican carrier that emerged from bankruptcy protection more than two years ago, according to people familiar with the matter.

The alternative asset manager, which owns about 22% of Aeromexico, and other selling shareholders are aiming to raise about US$400mil to US$500mil in the Mexico City-based carrier’s listing, said the people, who asked not to be identified discussing confidential information.