Thanks to Gray Ghost Funds for passing along this April 19 except from Latin Finance Daily. Finally, the big news is public:

“Mexico’s Banco Compartamos is set to become the first Latin American microfinance institution to raise equity capital when it prices an IPO on the Mexican Bolsa today, Thursday. Carlos Danel, co-executive director at Compartamos tells LatinFinance that the offering of secondary shares will allow some shareholders to partially monetize their stakes in the bank. The offer, which comprises an international 144a Reg S tranche and a Mexican retail tranche, should price in the range of 30 to 40 pesos a share, and could raise as much as $400 million, according to a source close to the deal. Credit Suisse is global coordinator and bookrunner of the 144a Reg S tranche, pitched at qualified institutional buyers in the international market. Banamex and Banorte are handling sales to Mexican retail. Danel, who has been meeting with investors in Mexico, Brazil and Europe, says the price range has already been revised upwards from 28 to 35 pesos per share. An equity banker away from the deal says the price adjustment indicates pent up demand for a name in a sector and country that has scarcity appeal. Mexico has logged just one equity deal so far this year, a $217.17 million follow-on offering for steel manufacturer Grupo Simec, compared to Brazil’s 19 deals totaling $6.26 billion, according to Dealogic. This is the first equity offer for a Latin American microfinance institution, but not the first from emerging markets. Indonesia’s Bank Rakyat raised $480 million in equity in October 2003, through UBS and Bahana Securities.”