Citigroup Preps Banamex IPO; Bank Sells $900M in CoCo Bonds

Citigroup is gathering analysts in Mexico ahead of Banamex's planned IPO, signaling progress toward the long-awaited separation. Banamex sold $900 million in loss-absorbing bonds on Monday, following $1.3 billion issued earlier this year, likely to bolster capital ahead of the listing. The IPO's timing and valuation remain uncertain, but the bond issuance suggests preparation is advancing.

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