The shares of Mexican company Grupo Financiero Banorte will start trading on LATIBEX tomorrow, 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.
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.
Alejandro Valenzuela will tomorrow present the company to the media at 10h. Afterwards, at 11:30 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.