Arias, Fábrega & Fábrega acted as counsel to Citibank and Credit Suisse, as arrangers and underwriters, in connection with a US$255 million initial public offering (IPO) of the shares of common stock of Intergroup Financial Services Corp., the Panamanian holding company of Peruvian companies Interbank and Interseguros.

The firm advised the arrangers in all aspects of Panamanian law and the drafting of all transaction documents. 

This transaction required the issuer's group of companies to be reorganized under a Panamanian holding company. To our knowledge, this is the first time that a Peruvian group reorganizes to create a Panamanian holding company in order to list the shares of the Panamanian holding company on the Lima Stock Exchange in Peru.