Davis Polk advised the joint bookrunners in connection with the international public offering by Grupo Supervielle S.A. and one of its shareholders of 20,155,453 American Depositary Shares, including 2,916,546 ADSs sold pursuant to the full exercise of the underwriters’ over-allotment option, each representing five of its Class B shares, at a price per ADS of $20.00. The international offering was part of a global offering that also included a concurrent offering of 12,410,957 Class B shares in Argentina. In addition, 5,261,775 Class B shares were subscribed pursuant to a preemptive and accretion rights offering in Argentina. The global offering raised gross proceeds of approximately $473.8 million. The ADSs are listed on the New York Stock Exchange under the symbol “SUPV.”
Grupo Supervielle S.A. is a financial group in Argentina. The company owns Banco Supervielle S.A., the fourth-largest Argentine private domestically controlled bank in terms of assets with a strong geographic presence in the City of Buenos Aires and the greater Buenos Aires metropolitan area, Mendoza and San Luis. The company is controlled by the Supervielle family, which entered the Argentine banking sector in 1887.
The Davis Polk capital markets team included partner Nicholas A. Kronfeld and associates Pedro J. Bermeo, Andrew J. Terjesen and Joshua S. Sills. The tax team included partner Kathleen L. Ferrell and associate Omer Harel. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and London offices.