On Friday April 20th Banco Compartamos made an initial public offering (IPO) of 30% of the banks assets to stock markets in New York (80%) and Mexico (20%), worth USD 467mm according to the International Financial Corporation (IFC), the private sector arm of the World Bank. Banco Compartamos, the largest microfinance bank in Mexico, was founded in 1990 and was authorised on June 1st 2006 by the Mexican government to operate as a bank, until which point it had operated as a specialised lending firm. The move sent shockwaves throughout the microfinance industry and has caused some vigorous debate.
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