March 23 (Bloomberg) -- Optima Energia, a Mexican company that helps clients reduce their energy consumption, plans an initial public offering in two or three years as demand from businesses and governments grows.
Optima, which has helped Ritz Carlton Hotel Co. and the city of Acapulco reduce spending on energy, estimates a $7 billion market in Mexico to replace public lighting such as street lamps and bulbs in city offices, Chairman Enrique Gomez-Junco said today in Mexico City. The company’s contracted sales doubled to $40 million last year and may quadruple this year, he said in an interview after participating in a Bloomberg CEO Roundtable.
An IPO is “not just an aspiration but also a very specific goal,” Gomez-Junco said. “It’s a natural process for a mid-sized company growing with this market opportunity.”
Mexico, Latin America’s second-largest economy, had three IPOs last year, compared with 11 in Brazil. The nation may have as many as 13 IPOs this year, Luis Tellez, chief executive officer of Mexican stock exchange operator Bolsa Mexicana de Valores SAB, said in an interview in November.
Optima, based in Santa Catarina, Mexico, uses financing from banks and development banks to fund its projects. Clients pay Optima from a portion of the energy savings, Gomez-Junco said.
“There are few energy-service companies and there are even fewer that can carry out financed projects,” Gomez-Junco said.
To contact the reporter on this story: Jonathan Roeder in Mexico City at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com