Axtel plans USD345 million IPO

15 Nov 2005

Local and long-distance telco Axtel has announced plans to hold an IPO with the aim of raising USD345 million on the Mexican and the US stock exchanges. The offering, which is being managed by Banamex in Mexico and Credit Suisse elsewhere, will see USD95 million going to straight to Axtel coffers, with the remainder channelled back to its shareholders. Based in Monterrey, Axtel operates in twelve cities offering a variety of local and long-distance voice services, as well as internet and data.

Mexico, Axtel