Aeromexico Seeks to Re-enter Stock Market with U.S. IPO Application

Automotive Author: EqualOcean News, Jiahui Liao Editor: Jiaqi Li May 16, 2024 09:03 PM (GMT+8)

Aeromexico Files for U.S. IPO.


Recently, Grupo Aeroméxico, S.A.B. de C.V. (Aeromexico) has submitted an Initial Public Offering application to the U.S. Securities and Exchange Commission, aiming to re-enter the stock market and raise up to USD 300 million through the offering. In its prospectus, Aeromexico stated its intention to list American Depositary Shares on the New York Stock Exchange under the ticker symbol AERO, with no public offering of shares in Mexico.

Aeromexico had filed for bankruptcy protection in the U.S. in 2020 and completed its restructuring process in 2022, which included an agreement to delist its shares from the Mexican Stock Exchange.

Headquartered in Mexico City, the capital of Mexico, Aeromexico was established in 1934. For the 12 months ending March 31, 2024, the airline group reported revenues of USD 5.2 billion. It is the only full-service airline in Mexico and the sole provider of long-haul, wide-body aircraft services connecting Mexico with the rest of the world. The airline operates both international and domestic routes, covering major cities in Mexico and 43 international cities in 22 countries across various continents.