Grupo Aval Acciones y Valores S.A., which is Colombia's largest banking group based on total assets, filed on Thursday with the SEC to raise up to $100 million in an initial public offering, though that figure is likely just a placeholder. The company operates four commercial banks, and both the largest pension and severance fund administrator and the largest merchant bank in Colombia.
The Colombia-based company plans to list on the NYSE under the symbol AVAL. The company booked $4.9 billion in total operating revenue and $3.6 billion in net interest income for the 12 months ended December 31, 2012. J.P. Morgan and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.
