More Argentine companies eye initial public offerings
By Walter Bianchi
BUENOS AIRES, June 21 (Reuters) - Argentina could soon see a boom in initial public offerings, investment bankers and market sources said, thanks to economic reforms and a potential upgrade of the country's "frontier market" status.
"We have a file of some 20 companies that are interested in opening capital on the exchange as a way to raise funds," said Emilio Ilac, executive manager of local investment bank Puente.
The companies would follow in the footsteps of Banco Supervielle and Havanna, the maker of Alfajores cookies that earlier this month raised $11.5 million by listing its shares.
Before that, Argentina had not had an IPO since 2010.
Interest in going public is especially strong from companies in the energy, agriculture and finance sectors, market sources said.
The expected offerings are part of a broader pro-market shift in Argentina as center-right President Mauricio Macri works to open the country to investors and end isolation from capital markets seven months into his term.
It comes amid a lull in IPOs elsewhere in Latin America and in the United States.
Macri has cut subsidies and promised other austerity measures to reduce the deficit in Latin America's third-largest economy. Continuación...