Grupo Supervielle S.A. (Pending: SUPV) hopes to raise about $190 million through its upcoming IPO. Based in Buenos Aires, Argentina, Grupo Supervielle S.A. is a financial group that was started in Argentina in 1887 by the Supervielle family. It owns Argentinian domestic bank Banco Supervielle S.A, which has branches located throughout the greater metropolitan area of Buenos Aires as well as in Mendoza and San Luis.

We previewed the IPO last week on our IPO Insights platform.

Grupo Supervielle S.A. plans to make a global offering of 104,166,667 shares of class B common stock through its IPO on May 20, 2016. It additionally will grant the international underwriters the option to purchase 15,625,000 additional class B shares in the form of American Depositary Shares, or ADS. Each ADS is comprised of five individual shares of stock. The individual shares have an expected price range of $2 to $2.60 while the ADS have an expected price range of $11 to $13.

Morgan Stanley, Raymond James Financial Inc. and Bank of America Corp. are in charge of organizing the sale.

(Source)

Business Summary

The Superveille family first made their entry into the Argentinian financial sector in 1887. They control Grupo Supervielle S.A. Julio Patricio Supervielle is the controlling shareholder in the company. After the IPO, he will hold 85 percent of the voting rights and 62 percent of the company’s capital stock. The company operates the privately owned domestic bank, Banco Supervielle S.A., which has locations throughout Buenos Aires, its metropolitan area, San Luis and Mendoza.

This would be the first IPO from Argentina since Mauricio Macri assumed office as the President of Argentina. During his first month in office in December 2015, Macri lifted restrictions on capital. The financial group states that it has more than two million customers and assets totaling $2.5 billion at the end of 2015.

Executive Management Overview

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