Argentina
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Possible Suquía stock issue stirs up interest

Bnamericas
Argentine bank Banco Suquía is looking at the possibility of placing a so far unspecified amount of capital on the stock market, local press reported. The bank would first list on the Cordoba bourse, and then after a time move to the Buenos Aires stock exchange, according to reports. News of companies listing on the stock market is highly positive given the lack of investment alternatives in the Argentine market, especially considering Macro Bansud is the "healthiest" Argentine bank that is publicly traded due to its low exposure to late paying public bonds, Invertironline brokerage financial analyst Juan Ignacio Gómez told BNamericas. In October this year Argentina's federal Banco Nación reported having concluded the sale of Banco Suquía to local Banco Macro Bansud. The analyst could not yet comment on the attractiveness of this possible investment due to unknown factors such as the size of the stock issue, what the float will be, and how the bank's asset structure will be comprised once Macro Bansud takes control. At the same time, high demand for the stock can be expected because of the lack of alternate investments and because of the possible identification of Cordoban investors with Banco Suquía, Gómez said. Banco Nación took control of Suquía and two other banks when French banking conglomerate Crédit Agricole left Argentina during the 2002 financial crisis. Suquía is one of the largest banks in Córdoba, Argentina's second wealthiest province.

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