Bloomberg News

Interjet Withdraws Offer as Mexico Initial Offerings Slump

June 29, 2011

(Adds company comment in second paragraph.)

June 29 (Bloomberg) -- ABC Aerolineas SA, which operates the Mexican airline Interjet, scrapped plans for an initial public offering that was set to price today and would have been Mexico’s third new listing of the year.

Interjet decided against carrying out the offer “at this moment” because of a “complex situation” in global financial markets, the company said in an e-mailed statement.

Interjet had sought to raise as much as $300 million in the IPO, according to two people familiar with the matter, who couldn’t be identified because the details of the transaction weren’t public.

Mexico has had two IPOs this year. Javier Artigas Alarcon, senior vice president for strategic planning at Bolsa Mexicana de Valores SAB, the Mexican stock exchange operator, projected in April that offerings would total 10 this year.

Interjet planned to raise money to add routes and buy planes, a preliminary prospectus showed.

--Editors: Jonathan Roeder, Darren Boey

To contact the reporters on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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