GRUPO FINANCIERO BANORTE ANNOUNCES INTENTION TO CONDUCT AN INITIAL PUBLIC OFFERING
June 12 2013 - 10:20AM
OTC Markets
Grupo Financiero Banorte, S.A.B. de C.V. (?GFNORTE?) (BMV:
GFNORTEO) informs the investment public that it intends to offer
its common shares in a public primary offering in Mexico and a
private offering in certain foreign markets, subject to market
conditions, the corresponding corporate and regulatory
authorizations, and other conditions.
In this regard, GFNORTE has filed an application with the National
Banking and Securities Commission (Comisi?n Nacional Bancaria y de
Valores) to update the registration of its common shares in
the National Registry of Securities (Registro Nacional de Valores)
and to be allowed to publicly offer such common shares in Mexico.
GFNORTE plans to conduct the offering as soon as the corresponding
authorizations are obtained and market conditions permit, for an
amount of up to U.S.$3.0 billion, which will consist of a public
primary offering in Mexico through the Mexican Stock Exchange
(Bolsa Mexicana de Valores,
S.A.B. de C.V.), and an international offering in the United
States of America pursuant to Rule 144A of the U.S. Securities Act
of 1933, and outside of the United States of America in accordance
with Regulation S of the Securities Act and the corresponding
legislation in the countries where the offering takes place.
This press release is solely for informational purposes, pursuant
to the terms of article 50, section III, paragraph i) of the
General Provisions Applicable to Securities Issuers and other Stock
Market Participants (Disposiciones de Car?cter General
Aplicables a las Emisoras de Valores y a Otros Participantes del
Mercado de Valores), and does not constitute an offering of
subscription or sale, nor an application to subscribe or sell
shares of GFNORTE in Mexico, the United States of America or any
other jurisdiction.
The common shares will not be registered under the Securities Act,
and may not be offered or sold in the United States without
registration under the Act or pursuant to an applicable exemption
from such registration. Common shares may only be offered in the
United States to qualified institutional buyers as defined under
Rule 144A, and outside of the United States pursuant to the
provisions of Regulation S of the Securities
Act.
GFNORTE
reiterates to the investment public that it will continue adopting
the best international corporate practices regarding Corporate
Governance and information disclosure. The Financial Group will maintain
its strategic and expansion plans to consolidate a leading
institution in Mexico; in this sense, we will timely inform the
investment community regarding the strategy execution and evolution
of our operations. The
Investor Relations Department is available for any inquiry or
comment regarding this material event at: investor@banorte.com or
in the number (55) 52.68.16.80.
About Grupo Financiero
Banorte
Banorte was founded in 1899 in the city of Monterrey, where it
first started operations as a small regional player. In 1992, in
the banking privatization process, Banorte was acquired by a group
of entrepreneurs leaded by Roberto Gonzalez Barrera. Through a
series of key acquisitions after the Mexican financial crisis of
the mid 1990?s, like Bancen and Banpa?s in 1997 and Bancrecer in
2002, Banorte was able to consolidate a nationwide presence in
Mexico. It now operates as a financial group known as Grupo
Financiero Banorte, offering universal banking products and
services in the Mexican financial system. Banorte is currently the
third largest banking institution in Mexico measured by size of
loans and deposits. It is the largest provider of State &
Municipal government financing, the second in mortgage financing
and the third largest provider of commercial loans. As well as
increasing its market shares, Banorte has consolidated its position
as one of Mexico's most profitable banks and is recognized for its
strong fundamentals by showing sound asset quality, as well as high
liquidity and capitalization levels.
With more than 26
million clients and a footprint of more than 1,300 branches
and
approximately
6,700 ATMs nationwide, GFNORTE?s main business line is retail
banking, and it also provides a wide array of products and services
through its broker dealer,
insurance company,
retirements savings funds (Afore), mutual fund
operator,
leasing & factoring companies
and warehousing. GFNORTE manages more than US 148
billion in assets and Banorte is the
only
retail bank, among the six largest institutions of the country,
that is controlled by Mexican shareholders. Its decisions are taken
locally without the influence of international headquarters, which
has proven to be an advantage given the recent weakness of many
global institutions. In 2006, Banorte entered into the U.S.
Hispanic market through the purchase of Inter National Bank
(?INB?),
a Texas-based bank, and two remittance companies in 2007: Uniteller
in New Jersey and Motran in California.
In 2011, Ixe Grupo Financiero merged with GFNORTE. Its strategic
partnerships include the International Finance Corporation (?IFC?)
at its banking subsidiary, the Mexican Social Security Institute
(?IMSS?) at the retirement savings fund management business, and
the Italian insurance company Generali at the insurance and
annuities business. In January 2013, GFNORTE finalized the
acquisition of Afore Bancomer through Afore XXI Banorte, becoming
the most relevant transaction to date in the retirement savings
fund system and creating the most significant Afore in
Mexico.
GFNORTE?s shares trade in the Mexican Stock Exchange (?BMV?) with
the ticker ?GFNORTEO?, in the Madrid Stock Exchange under the
symbol ?XNOR? and in the US ADR OTC market under ?GBOOY?.
For further information, visit www.banorte.com.
Forward-Looking Information
This release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as
amended. Words such as
?believe,? ?anticipate,? ?should,? ?estimate,? ?seek,? ?expect,?
?could,? ?plan,? ?will,? and similar expressions are intended to
identify forward?looking statements but are not the exclusive means
of identifying such statements. By their very nature,
forward?looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that the
predictions, forecasts, projections and other forward?looking
statements will not be achieved or will differ from actual
results. You are
cautioned that any such forward-looking statements are not
guarantees of future performance and that a number of risks and
uncertainties could cause actual results to differ materially from
those anticipated in the forward-looking statements.
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