Private equity-backed Mexican hotelier Grupo Hotelero Santa Fe has reportedly delayed its IPO planned for yesterday.
The company, which is part-owned by Nexxus Capital, had hoped to raise about $250m according to regulatory filings, but has since postponed the offering according to Bloomberg.
It cited two people with direct knowledge of the decision, who said they were unauthorised to speak publically on the matter.
The decision comes at the same time several larger businesses ready themselves to float in the region, including dairy company Grupo Lala.
Intercam Cassa del Bolsa trader Aldo Miranda told the news agency that the fact other deals were in the pipeline made Hotelero less attractive for institutional investors.
Nexxus was said to be nearing a first close for its $500m-targeting sixth fund in April this year, having gathered $300m from LPs according to Dow Jones.
A close of that magnitude would have seen the fund equal the total raised between Nexxus’ $300m fifth and fourth funds, which invest jointly but were raised separately to comply with Mexican law.
The firm currently has $660m of assets under management and investments in 18 portfolio companies according to its website.
Copyright © 2013 AltAssets