Cleary Gottlieb represented Vista Oil & Gas S.A.B. de C.V. (Vista) in the public offering of 10 million common shares, which may be represented by American depositary shares (ADSs), each representing one common share.
The global offering consisted of an international offering in the United States and other countries outside of Mexico, and a concurrent public offering of common shares in Mexico. Vista’s common shares are listed on the Bolsa Mexicana de Valores S.A.B. de C.V. (the Mexican Stock Exchange) under the symbol “VISTA.”
The global offering launched on July 18, 2019, and was made pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission and a prospectus prepared under Mexican law, which was authorized by the Mexican National Banking and Securities Commission. The global offering priced at $9.25 per common share and ADS on July 25, 2019, and is expected to settle on July 30, 2019. The ADSs are listed on the New York Stock Exchange under the ticker symbol “VIST.”
Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are acting as joint bookrunners and joint global coordinators, and Itau BBA USA Securities Inc., Morgan Stanley & Co. LLC, and Santander Investment Securities Inc. are acting as joint bookrunners in the international offering. In connection with the global offering, Vista granted the underwriters the option to purchase up to 1.5 million additional common shares, which may be represented by ADSs, to cover overallotments, if any.
Vista an independent Latin American oil and gas company operating since April 4, 2018. It owns conventional producing assets in Argentina and Mexico, with most of its production and revenues originating in Argentina. In addition, most of its ongoing drilling and workover activities, estimated proved reserves, and assets are located in Argentina, including its currently producing Vaca Muerta wells. As of March 31, 2019, Vista was the sixth-largest oil producer in Argentina according to the Argentine Secretariat of Energy. As of the date of pricing, Vista’s portfolio of assets includes working interests in 16 hydrocarbons blocks, 13 of which are located in Argentina and three in Mexico.