With an IPO, the bank’s value, estimated at nearly $7 billion, may change.
Fitcha added that while Banamex’s IPO is expected to happen in 2025, Citi may need to sell more shares after that date and this could take several years.
“Exiting full ownership of Citi may require subsequent share sales that could take several quarters or years after the IPO date,” he noted.
It has not been defined whether Banamex will be sold on the New York Stock Exchange or the Mexican Stock Exchange, but analysts estimate that the sale could take place in both markets.