Corporate Finance

Vista Oil & Gas Completes 650 Million Dollar IPO

On August 10th,  Mexican energy investment company Vista Oil & Gas announced the completion of a 650 million dollar IPO.

On August 10th,  Mexican energy investment company Vista Oil & Gas announced the completion of a 650 million dollar IPO.


Sixty-five million shares were sold for the price of 10 dollars each, with 50% being sold in Mexico and the other half being sold to the United States and other countries. The CEO, Miguel Galuccio commented that “the financial markets have supported our vision at Vista.”  The resources gathered in the IPO surpassed the original expectation of raising 500 million dollars.

 

Vista is a company backed by Riverstone Capital and it is the first Special Purpose Acquisitions Vehicle (SPAC) in Mexico.

 

Latham & Watkins  in Chicago and Washington, DC and Creel, García-Cuéllar, Aiza y Enriquez SC in Mexico City assisted Vista in the IPO. Credit Suisse and Citi coordinated the deal and enlisted Shearman & Sterling  in New York, Washington, DC and San Francisco and Mexico's Ritch, Mueller, Heather y Nicolau.

 

The plan:

This IPO is part of Vista’s objective to purchase energy exploration and production assets in Mexico, Colombia, Argentina and Brazil by 2019. The IPO takes advantage of the 2013 constitutional change in Mexico, which allowed private players to enter the energy production and exploration market for the first time in 75 years. 

 

C.S.

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