Mexican companies Grupo Elektra and TV Azteca have filed their listing applications with the Latibex market. The shares of both companies will list on the market as of November 16. Bancoval will act as the linking entity for both stocks. In the Mexican market Grupo Bursátil Mexicano (GBM) will provide custody services for the companies’ stock.
With these listings Latibex will have 7 Mexican companies and a total of 34 stocks from 7 Latin American countries, the market thus consolidating itself as the third biggest for Latin American stocks by market capitalisation. The listing of the two companies will increase Latibex’s market capitalisation by € 2.9 bn. TV Azteca is one of the world’s two leading producers of TV contents in Spanish. The company runs two national TV networks, namely Azteca 13 and Azteca 7, through its 315 broadcast stations, which cover the entire Mexican Republic. Azteca’s subsidiaries include Azteca América, which is the fastest growing channel in the US and Todito.com, an Internet portal for Spanish speakers in the US.
“By listing on the Latibex market we will gain access to a wide range of sophisticated European investors with an interest in the Latin American region and who consider this market an efficient platform for channelling their resources towards some of the most outstanding companies in the continent”, said Mario San Román, the company’s Managing Director.
Grupo Elektra is Latin America’s leading chain of retail shops specialising in consumer credit and banking services. Grupo Elektra offers its products and services through its Elektra, Salinas, Rocha, Bodega de Remates and Elektricity selling formats and through the Internet.
The Group runs 1,000 retail outlets in Mexico, Guatemama, Honduras and Peru. It also offers financial and banking products though its Banco Azteca subsidiaries, which are located inside their outlets. Its financial services include consumer credit, personal loans, money transfers, extended guarantees, saving accounts, term deposit, retirement savings schemes and insurance.
“Grupo Elektra has a global vision, and it will become a proud member of the Latibex market from which it will be able to present its business plans to a wide range of experienced European investors. From now on they can benefit from our Group’s success”, said Javier Sarro, the Group’s Chief Operating Officer.
In the case of TV Azteca, its trading unit will be 10 shares and the ticker code will be XTZA. For non-Mexican investors the stock carries full real state rights but not voting rights. The shares of the single series of Grupo Elektra, which carry economic as well as voting rights, will have a trading unit of one share, the same as that on the Mexican market. Its ticker code will be XEKT.
