Deals
Aeromexico Investors Seek Up to $500 Million in US IPO
- Apollo, which owns 22% of airline, to sell shares in listing
- Barclays, Morgan Stanley, JPMorgan among banks working on IPO
Aeromexico filed for Chapter 11 protection in 2020 amid a downturn in air travel due to the Covid-19 pandemic.
Photographer: Jeoffrey Guillemard/BloombergThis article is for subscribers only.
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.
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.