Promecap Acquisition Company, S.A.B. de C.V.’s US$300 million initial public offering on the Mexican Stock Exchange


Latham & Watkins LLP advised Promecap Acquisition Company, S.A.B. de C.V. (Promecap Acquisition Company), a special purpose acquisition company (SPAC), in its global initial public offering (IPO).

As a result of the IPO, the Company will become the first Mexico-focused SPAC to list on the Mexican Stock Exchange.

Promecap Acquisition Company raised US$300 million in the global offering, which was effected through the sale of 30 million Units at US$10.00 per Unit via a public offering in Mexico and a concurrent international private offering in the United States and elsewhere outside Mexico. The Company intends to use the proceeds from the offering to conduct an initial business combination with a target whose operations or economic interests are primarily located in Mexico. Promecap Acquisition Company is sponsored by Promecap, S.A. de C.V., a leading Mexican private equity firm controlled by Fernando Chico Pardo.

Latham & Watkins LLP advised Promecap Acquisition Company on the deal with a team led by partners Roderick Branch (picture) and Michael Sullivan.

Involved fees earner: Roderick Branch – Latham & Watkins; Michael Sullivan – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Promecap Acquisition Company, S.A.B. de C.V. ;

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Author: Ambrogio Visconti