With this new listing, Latibex increases its representation from Mexico companies, encompassing 35 stocks from 7 Latin American countries - Argentina, Brazil, Chile, Mexico, Panama, Peru and Puerto Rico – thus consolidating itself as the third largest market for Latin American stocks by market capitalisation. The total Latibex’s market capitalisation reaches € 200 billion with the incorporation of GEO’s shares.
The value of trading on Latibex came in at € 48 million in August, 70% up on the year and a monthly record high in trading volume. The number of trades on the market has increased by 105%, also setting a monthly record high. The FTSE Latibex Top posted a return of 4.61% during August, and the accumulated return on the index over the year was 38.34%. These figures show the important growth of this market during this year.
Corporación GEO is a vertically integrated company and manages all the procedures related to design, development, construction, marketing and selling of social interest, medium class and residential houses.
“We are very proud of listing our shares on Latibex and thus facilitate market access for the global capital markets. We confirm our commitment for a company’s global strategy to add value to the investments of our shareholders in a transparent, sustainable and reliable way”, said GEO Executive Vicepresident, Miguel Gómez Mont.
GEO’s operations are located in 33 cities across 19 Mexican States and it is the most geographically diversified construction’s company in Mexico, reaching 76% of the country’s population. Since its foundation, 32 years ago, GEO has sold more than 240.000 houses, where more tan 1 million people live nowadays. During the last 11 years, GEO annually posted a 15% sales growth and 22,1% EBITDA increase (dollars).
The company’s shares will be traded under the trading code XGEO. BBVA will act as the specialist intermediary for the stock.
