Aeromexico, Shareholders Raise $300 Million in IPO and Placement

Mexican airline Grupo Aeromexico SAB and some of its shareholders raised about $300 million through a much-anticipated IPO and private placement, returning to public markets after delisting three years ago.

Mexico City-based Aeromexico and the selling shareholders priced 11.7 million American depositary receipts at $19 each in the international part of the initial public offering, according to a statement Wednesday. The ADRs, which each represent 10 ordinary shares, were marketed at $18 to $20 each. In the Mexican offering, the company and the shareholders sold 27.5 million common shares for 35.34 pesos each.