Citigroup plans to complete split of Banamex next week, IPO in late 2025 - WSJ

Citigroup (NYSE:C ) is close to spinning off its Mexican consumer bank Banamex, according to a report from the Wall Street Journal, citing company officials.The bank said it would complete a split next week of the systems that underpin Banamex from the rest of operations in Mexico. That is a precursor to its plan to list Banamex on U.S. and Mexican exchanges in late 2025. Citi plans to sell a part of its stake through an IPO, then continue to sell the rest of its holdings over time.

Source: Investing.com