StocksMedium•28 September 2026•
1 min read
Citigroup Targets $3 Billion Raise in Banamex IPO
Key Facts
1Citigroup is planning to raise over $3 billion through an initial public offering for its Mexican retail unit, Banamex.
2Citigroup is engaging Goldman Sachs and Bank of America to assist with the IPO process.
Citigroup is planning to raise over $3 billion through an initial public offering for its Mexican retail unit, Banamex. Seeking Alpha reported that the banking group is engaging Goldman Sachs and Bank of America to assist with the IPO process.
The move is part of Citigroup's long-term strategy to exit its consumer banking business in Mexico and focus on institutional and wealth management. Citigroup (C) closed at $134.28 on September 25, 2026, while Bank of America (BAC) closed at $56.7 and Goldman Sachs (GS) closed at $935.45 on the same date.