Citi targets $3 billion from IPO
Citigroup is aiming to raise more than $3 billion from the initial public offering of Mexican bank Banamex.
The IPO is planned for January, with Bank of America, Goldman Sachs and JPMorgan expected to participate in the offering.
Citi sold a 25% stake in Banamex to Fernando Chico Pardo last year, followed by another 24% stake to investors including General Atlantic and Blackstone. Ahead of the IPO, Citi is evaluating how much of its remaining stake will be offered to the public.
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