WAMEX announced IPO of Mexican portfolio company Hoteles City Express
June 20, 2013 - Mexico City based WAMEX Private Equity announced the initial public offering of shares in Fund MIF II portfolio company Hoteles City Express, which took place last Friday 14th with distribution in Mexico and abroad. The offering amount was US $200 million primarily to fund further expansion, and the company is now listed in the Mexican Stock Exchange under ticker "HCITY".
Hoteles City Express is the leading budget business hospitality chain in Mexico, operating 72 properties in 49 Mexican locations and growing also into South America. The company currently operates 8,201 rooms.
WAMEX was the first private equity manager to raise institutional funding from Mexican pension funds via a publicly listed CKD vehicle. WAMEX has invested in four Mexican companies: Hoteles City Express (budget business hotels), Health Digital Systems (healthcare information technology), Water Capital Holdings (sustainable solutions financing) and Laboratorios Medix (obesity and overweight pharma).