September 26, 2012 / 12:27 PM / 5 years ago

Banco Santander prices Mexico unit at 31.25 peso per share

MEXICO CITY (Reuters) - Banco Santander’s Mexico unit (SANMEXB.MX) said it has priced a dual-country share offering at 31.25 pesos per share, in the middle of the range set by the company, raising more than $4 billion.

The share offering, launched to help the bank’s Spanish parent SAN.MX shore up its operations in the ailing Spanish economy, is set to be the second largest in the United States this year behind Facebook (FB.O) and the largest ever of a Mexican company.

The figure put the price in the middle of the range of 29 to 33.5 pesos set by the bank earlier this month, beating the predictions of wary investors and cementing Mexico’s emergence as Latin America’s investment hot spot.

The bank said in a filing with the Mexican exchange that it sold nearly 1.7 billion shares, including the greenshoe overallotment, in a Mexican and international offering worth 52.8 billion Mexican pesos ($4.12 billion).

Santander’s Mexico unit said that it sold 319,977,408 shares in its Mexico offering, including the greenshoe, and 1,369,834,925 shares in its international offering, including overallotment.

Reporting By Michael O'Boyle; Editing by Louise Heavens

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