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Brazilian company USIMINAS, whose preference shares started trading on LATIBEX in July 2005, today has listed its ordinary shares on the Spanish market.
USIMINAS is Brazil’s largest iron and steel company and boasts a market capitalisation of €6.44 bn at year-end 2006. The company ranks among the top 30 iron and steel groups worldwide and is made up of companies that deal in iron and steel as well as other sectors where steel has strategic relevance.
The shares will be listed in trading units of 1 share under the code XUSIO. Espirito Santo will act as the specialist for the stock.
Last week shareholders with controlling stakes in the company placed a sizeable amount of shares on the market, which will boost the liquidity in these shares significantly. This in turn has encouraged the company to list its ordinary shares on LATIBEX.
USIMINAS’s ordinary shares will be included in the LATIBEX FTSE Latibex All Share broad index. This indicator comprises all the companies listed on the LATIBEX market and its calculation and dissemination is made in collaboration with index company, FTSE.
Unlike preference shares, ordinary shares carry financial and voting rights. As is the case with other securities on the Brazilian market, ordinary shares entail a series of measures designed to protect the rights of retail investors.
