S&P 500
7,435.20
+0.46%
Dow Jones
52,311.40
+0.88%
Nasdaq 100
29,559.00
+0.10%
Russell 2000
3,016.11
+1.14%
FTSE 100
10,488.30
+0.25%
Nikkei 225
69,684.70
+0.53%
Stock Market Live June 24, 2026: S&P 500 (SPY) Attempting to Regain Momentum

Banking, finance, and taxes

Spain’s Santander Raises $3.57 Billion in Mexican IPO

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Spain’s Banco Santander SA (NYSE: SAN) held dual IPOs this morning for about 25% of the bank’s Mexican unit, Grupo Financiero Santander Mexico SAB. de C.V. (NYSE: BSMX). The American Depositary Shares (ADS) went out at $12.18 and traded more than a dollar higher than the IPO price in the mid-afternoon (each ADS is equal to five ordinary shares).

Santander sold about 19% of its Mexican unit in Mexico and the other 6% in the U.S. The Spanish bank plans to use the proceeds from the IPO to bolster its capital position. Santander is the fourth largest bank in Mexico and the largest that is publicly traded. The IPO values Santander Mexico at about $16.45 billion.

Today’s IPO is the largest in the U.S. financial sector since Santander raised $7.5 billion in the IPO of its Brazilian unit in 2009.

Santander Mexico ADSes are now trading at $13.26, up 8.9%. More than 123 million have traded hands so far today.

Paul Ausick

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Trump Calls for DOJ Investigation Into Oil Companies Over Price Gouging at the Pump
Thomas Richmond |

Trump Calls for DOJ Investigation Into Oil Companies Over Price Gouging at the Pump
The Dividend Portfolio That Starts Like A Honda And Ends Like A Ferrari
Drew Wood |

The Dividend Portfolio That Starts Like A Honda And Ends Like A Ferrari

Continue Reading

Douglas A. McIntyre |

Disappointing IPO Pricings (MG, OMER, BSBR, VRSK)

Initial public offerings are supposed to do well in up-markets.  This morning we have two IPOs and both seem weak…

Paul Ausick |

Why GE Stock Price Is Lower After Synchrony IPO

When General Electric first announced the spin-off of its North American credit card business, most observers were looking for the…

Trey Thoelcke |

Societe Generale Blames Profit Slump on Write-Downs

Societe Generale SA on Wednesday blamed its worse-than-expected second-quarter profit on write-downs on assets in the United States and Russia.…

Jon C. Ogg |

Is Banco Santander Becoming Safe to Invest In Again?

ThinkstockBanco Santander S.A. (NYSE: SAN) may be a banking giant based in Spain, and that automatically makes it one the…

Paul Ausick |

Ambev, Banco Santander Plunge into Tuesday’s 52-Week Low Club

Ambev, Banco Santander, Deutsche Bank, and Banco Bradesco all posted new 52-week lows Tuesday.

Jon C. Ogg |

Spanish Bailout Hardly Makes A Dent (EWP, STD, BBVA, NBG, TEF, CHU)

When this weekend’s announcement came out of a $125 billion bailout for Spain to prop up its troubled banks, most…

Jon C. Ogg |

Santander Raising U.S. Capital (STD, SAN)

Banco Santander S.A. (NYSE: STD) has filed to raise up to $1 billion in debt securities in the United States…

Jon C. Ogg |

24/7 Wall St. Top Analyst Upgrades & Downgrades Of The Week

Jon OggThis last week had many top analyst calls, but each week we review all of the calls looking for…

Douglas A. McIntyre |

Media Digest 6/10/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Volcker is optimistic about a good financial reform bill. Reuters:   BP plc (NYSE: BP) shares dropped on concerns about…

Top Gaining Stocks

Builders FirstSource
BLDR • Vol: 1,347,703
Corning
GLW • Vol: 9,568,424
PulteGroup
PHM • Vol: 1,328,998
Mohawk Industries
MHK • Vol: 344,838
Expedia
EXPE • Vol: 925,799

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Principal Financial Group
PFG • Vol: 1,038,400
Baker Hughes
BKR • Vol: 3,689,659
Dow
DOW • Vol: 7,944,511
APA
APA • Vol: 2,077,643