Mexican airline Grupo Aeromexico (AERO.US) plans to price its IPO at $18-20 per ADS and raise $223 million in funds.

Mexican airline Grupo Aeromexico announced the terms of its initial public offering (IPO) in the US last Friday. The company plans to raise approximately $223 million by issuing 11.7 million American depositary shares (ADS) at a price range of $18-20 per ADS. The company plans to list on the New York Stock Exchange under the stock symbol "AERO". At the same time, Grupo Aeromexico will also issue 27.5 million shares in the Mexican local market and conduct a simultaneous private placement with PAR Capital worth $25 million at a price equal to 95% of the IPO price per share. Based on the midpoint of the price range, Grupo Aeromexico's valuation is approximately $2.8 billion. Grupo Aeromexico is the only full-service airline headquartered in Mexico and the only airline that offers long-haul wide-body flights between Mexico and other regions of the world. The company operates international and domestic flight networks, covering all major cities in Mexico, as well as 52 international destinations in 22 countries. Grupo Aeromexico is the only Mexican airline that is a member of one of the three major global airline alliances (SkyTeam Alliance), which it co-founded with Delta Air Lines over 20 years ago. Additionally, the company has a joint cooperation agreement with Delta Air Lines to support passenger traffic on Mexico-US cross-border routes. Data shows that Grupo Aeromexico had revenues of $5.4 billion in the 12 months ending June 30, 2025.