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 Business News | March 2007 
Mexico Stock Exchange Plans Own IPO in October
 Jason Lange - Reuters
| | Mexico City Stock Exchange |
Mexico City – Mexico's stock exchange hopes to sell its own shares in an initial public offering at the end of October, its president told reporters Thursday.
President Guillermo Prieto declined to say the number of shares or percentage stake that the bourse operator plans to offer in the IPO.
The board of directors for the exchange, which also trades debt and derivatives, said in November it had approved a plan to start reorganizing the company, which is owned by major market participants, with the goal of listing its shares.
“We may launch around the end of October this year,” Prieto told reporters, adding that the exchange still needed authorization from government regulators and shareholders.
The Mexican bourse is a private business operating under a concession from the finance ministry. Its shareholders are the more than 30 brokerages that trade stock and debt on the exchange. Each hold one share in the bourse.
The exchange operator has started a process whereby its shareholders are assigned a set number of new shares, which will lead to a listing of shares on its own market, not unlike ones carried out in recent years in Germany, Australia and London.
Major U.S. and European stock and commodities exchanges, most of them former members' clubs, have listed their shares in recent years in an increasingly competitive, technology-driven and commoditized industry.
Mexico's stock exchange, like others around the world, has expanded its reach by creating alliances with European and U.S. bourses and increasing its trading in futures, options and other derivatives.
NYMEX Holdings Inc., operator of the largest physical commodities exchange in the world, made a U.S. stock market debut in November and saw its share price more than double.
Stock exchange executives in Mexico have said their goal is to make the bourse a one-stop store for Mexican investors interested in buying local or foreign securities.
In Mexico, a law to modernize the stock market passed in 2005, which makes it possible for the exchange to go public. |
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