Shearman & Sterling advised Intercorp Financial Services, a leading provider of banking, insurance and wealth management in Peru, on its NYSE-listed IPO. It was the first listing of a Peruvian company on the NYSE in the last six years. Trading under the symbol IFS, 10,186,841 common shares were sold priced at $46, resulting in gross proceeds of $468.6 million. The base transaction was nine million common shares comprised of a mix of primary and secondary with a green shoe of 1,350,000 common shares provided by the company. The underwriters partially exercised their option shortly after the pricing to purchase an additional 1,186,841 shares. The common shares began trading on July 19.
The company has been listed on the Bolsa de Valores de Lima since 2007.
The Shearman & Sterling team below was supported by visiting attorney Gonzalo Paredes and associate Ahuva Weinreich.