Grupo Aeromexico is seeking to raise around $229 million in an initial public offering (IPO), Bloomberg reports. The Mexican airline will sell $201.3 million of shares in the country and underwriters may acquire an additional $30.03 million as part of the overallotment option.

The IPO is scheduled to be priced on April 13, 2011 within a target range of $2.51 to $2.85 per share. Citigroup’s Banamex unit, Actinver and Deutsche Bank are the underwriters on the sale.

Click here for the story from Bloomberg.

Click here for additional coverage from Reuters.