Renaissance Capital logo

Argentine bank Grupo Supervielle prices upsized IPO at $11, the low end of the range

May 18, 2016
Grupo Supervielle logo

Grupo Supervielle, an Argentine bank with over $2 billion in assets, raised $281 million by offering 25.5 million ADSs at $11. It originally planned to raise $250 million by offering 20.8 million ADSs at a range of $11 to $13. Grupo Supervielle will dual list on the NYSE and in Buenos Aires under the symbol SUPV. Morgan Stanley and BofA Merrill Lynch acted as lead managers on the deal.