Mexican Petrochemical Conglomerate in $782 Million IPO

May 21, 2012

Cleary Gottlieb represented Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as initial purchasers, in the debut global equity offering of Alpek, S.A.B. de C.V., which was comprised of an initial public offering on the Mexican Stock Exchange and a Rule 144A/Reg S offering in the United States and other countries. The offering raised a total of Ps. 10.4 billion (U.S. $782.1 million), including shares purchased pursuant to the over-allotment option. It was the first in Mexico since July 2011.

Alpek, a subsidiary of Alfa, S.A.B. de C.V., a large Mexican conglomerate, is a holding company involved in the production, marketing and sale of petrochemical products. Its products serve the food and beverage packaging, textile and industrial filaments, consumer goods, automotive, construction, agriculture, oil and pharmaceutical end markets. It is Mexico’s largest petrochemical company and the second largest in Latin America. It has operations in Mexico, the United States and South America.