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Colombia’s largest banking group, Grupo Aval aims to raise $100 million by selling shares to the public, in a deal filed with the US regulatory body on Thursday.
The banking giant plans to be listed on the New York Stock Exchange under the symbol “AVAL” in an Initial Public Offering (IPO), assisted by JP Morgan and Goldman Sachs, that aims to earn them $100 million.
The filing did not reveal how many shares the banking group intends to sell, nor how much they will be worth.
The company reported a net income of $863.2 million in 2012 and owns four commercial banks, a pension and severance fund manager, a merchant bank, as well as the Central American banking group, BAC Credomatic.
Sources
- Colombia’s largest banking group Grupo Aval Acciones y Valores files for US IPO (Nasdaq)
- Colombian banking group Grupo Aval files for $100 mln U.S. IPO (Reuters)
- Filing with the Securities and Exchange Commission
