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The shares of Mexican company Grupo Financiero Banorte will start trading on LATIBEX as from June 9th, the company having received the authorisations necessary to list on the market.
Grupo Financiero Banorte is the fifth largest financial group by total assets in Mexico. Its main subsidiary, Banco Mercantil de Norte, better known as Banorte, is one of the most profitable large Mexican banks and the most important one in terms of total volume of loans.
With this incorporation LATIBEX adds a new company from the Mexican financial sector and comprises now 39 stocks from 6 Latin American countries (Argentina, Brazil, Chile, Mexico, Peru and Puerto Rico) consolidating its position as the second largest market in Latin American securities by market capitalisation, at €316.37 billion.
The return on the FTSE LATIBEX All Share index up to 27 May 2009 was 53.3% and that on the FTSE LATIBEX Top was 34.4% during the same period.
Alejandro Valenzuela, Managing Director of Grupo Financiero Banorte said: "the listing of our shares on LATIBEX consolidates a business relationship that began a long time ago between this market and LATIBEX. I strongly believe that LATIBEX is an ideal platform to create interest in our shares in the medium to long term".
Grupo Financiero Banorte will be included in the FTSE LATIBEX All Share, the calculation and dissemination of which is carried out in collaboration with the index company FTSE. The stock’s eligibility for its inclusion in the LATIBEX Top will also be assessed.
On June 9th Alejandro Valenzuela will present the company to investors, analysts and the media during an event that will take place in the Madrid stock exchange. Afterwards, the company’s common stock will start trading on LATIBEX.
BBVA will act as specialist for the stock, which will be listed in trading units of 10 shares under the code XNOR.
