During the fourth quarter 2025 earnings call, Citi CEO, Jane Fraserconfirmed that the bank is already evaluating additional sales of minority stakes as the initial public offering process approaches.
“We are focused on the next step of the exit process, and are actively evaluating the sale of some additional smaller stakes as we move closer to an initial public offering (IPO),” he said during the question and answer session with analysts.
Fraser stressed that the timing and structure of these sales will depend on various factors, particularly market conditions.
As we’ve said, the timing and structure of what we do will be guided by several factors, including market conditions, with the ultimate goal of maximizing shareholder value.
Jane Fraser, CEO of Citi
The executive explained that the operation closed in 2025 was a larger initial placement compared to what is usually observed in processes prior to an IPO. “That 25% stake that we just closed is a much larger initial position than it would have been if we had gone directly public. So I think the next step will be smaller stakes, and we will continue to move forward from there,” he said.
In September 2025, Citi agreed to sell that 25% of Grupo Financiero Banamex to an entity controlled by Mexican businessman Fernando Chico Pardo and members of his family, in an operation valued at around 42,000 million pesos (about 2,300 million dollars). The transaction was completed in December, after receiving regulatory authorizations, and placed Chico Pardo as an anchor investor in the separation process from Banamex.
