September 26, 2012 / 2:02 PM / 5 years ago

Santander's Mexico affiliate trades up after offering priced

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

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