Promecap calls upon Latham & Watkins for $300m IPO

Latham & Watkins advised Promecap Acquisition, a special purpose acquisition company (SPAC), on its $300 million initial public offering in the Mexican stock exchange.

Promecap Acquisition is sponsored by Promecap, a Mexican financial services and private equity firm founded in 1997. The company will use the proceeds to invest in Mexico.

The transaction included a public offering in Mexico and a concurrent international private offering in the United States and elsewhere outside Mexico. As a result of the IPO, Promecap will reportedly become the first Mexico-focused SPAC to list on the Mexican stock exchange.

Partners Roderick Branch and Michael Sullivan led the Lathams team advising Promecap.