Aeromexico files for IPO in the U.S. Following Mexico Share Delisting

Grupo Aeromexico filed for an initial public offering (IPO) in the United States, the U.S. securities regulator said in a document on Monday.

The Mexican airline is among a number of foreign companies that have flocked to U.S. exchanges in recent months as it seeks to take advantage of the broader pool of capital and higher valuations offered by the market.

The firm is moving ahead with its U.S. stock market debut more than two years after emerging from bankruptcy protection.

Aeromexico said its existing shareholders will sell American Depositary Shares (ADSs) in the IPO, but did not disclose the size or price range of the offering. Its shareholders include private equity firm Apollo Management, Delta Air Lines and investment firm Silver Point Capital, among others.

Grupo Aeromexico plans to list on the New York Stock Exchange under the symbol “AERO”. Barclays Capital, Morgan Stanley, J.P. Morgan Securities and Evercore Group are the lead underwriters of the transaction.