GMexico Transportes to launch IPO at the end of October

GMexico Transportes, the rail unit of Grupo Mexico, plans to price an initial public offering on 31 October. The price range was not disclosed. The GMexico Transportes transportation division, previously called Infraestructura y Transportes Mexico (ITM), includes subsidiaries Ferrocarril Mexicano (Ferromex), Ferrosur, Intermodal Mexico and Texas Pacifico.
In 2016 Grupo Mexico abandoned plans for the IPO of 15% of Infraestructura y Transportes Mexico, arguing that market conditions were not optimal. At that time, it had hoped to raise between 13.7-billion pesos and 16-billion pesos (USD 750-million to USD 876-million).

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