Grupo Supervielle, an Argentinian bank with over $2 billion in assets, announced terms for its IPO on Tuesday.
The Buenos Aires, Argentina-based company plans to raise $250 million by offering 20.8 million ADSs (20% insider) at a price range of $11 to $13. At the midpoint of the proposed range, Grupo Supervielle would command a fully diluted market value of $798 million. The bank also plans to list its shares in Argentina.
Grupo Supervielle was founded in 1887 and booked $435 million in net revenue for the 12 months ended March 31, 2016. It plans to list on the NYSE under the symbol SUPV. Morgan Stanley and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of May 16, 2016.
