Overview

• CEO René Saúl said the offering could come in roughly three years, with a U.S. listing paired with Mexico’s BMV or BIVA, and Milenio reported the NYSE as the U.S. venue under consideration.
• Kapital closed an $86 million Series C in early September at a $1.3 billion valuation, which executives described as pre-IPO financing.
• The group bought Intercam’s brokerage, asset-management and operating banking assets in August and previously pledged a $100 million capital injection to stabilize and integrate those businesses.
• Saúl said a third-party review preceded the transfer from Intercam and that no toxic assets were migrated, citing about 12,000 million in loans and 20,000 million in deposits acquired.
• Leadership says the firm manages “3 billones de dólares” in assets and argues a listing could help unlock liquidity in Mexico’s equity market.