MEXICO CITY (Reuters) - Shares of the Mexican affiliate of Spanish bank Santander (SANMEXB.MX) rose 2 percent in early trading on Wednesday after the company priced its multi-billion dollar offering the previous session.
Banco Santander (SAN.MC) is raising more than $4 billion in a dual-country offering of its Mexican affiliate’s shares to help the bank shore up its operations in the ailing Spanish economy.
The offering, the largest ever by a Mexico-listed company, was priced at 31.25 pesos in Mexico on Tuesday. The New York-listed shares (BSMX.N) traded at $12.63.
Reporting By Cyntia Barrera Diaz; Editing by Gerald E. McCormick