Aeromexico IPO raises USD332 million for fleet and network expansion

Aeromexico is embarking on a major expansion plan, using the MXN3.89 billion (USD332 million) raised from its initial public offering (IPO). The Aeromexico group, which includes regional carrier Aeromexico Connect and leisure carrier Aeromexico Travel, completed an offering on the Mexican Stock Exchange on 14-Apr-2011. The shares were priced at MXN31 per share, which was towards the lower end of the MXN30-MXN34 guidance range but were heavily oversubscribed.