|
|
|
 Business News | May 2008 
Mexico Stock Exchange to Raise $440 Million In Own IPO
 Lizbeth Salazar - Reuters
go to original
| | Mexico City Stock Exchange HQ. | | |
Mexico City – Mexico's stock exchange said on Wednesday it expects to raise around 4.6 billion pesos ($440 million) in an initial public offering of its own stock.
The exchange said the offer of just less than half of its stock, planned for Mexico and the United States, would be priced between 14 and 19 pesos per share. The 4.6 billion pesos mentioned is at the mid-point in that range.
At 19 pesos per share, the exchange – which includes a derivatives market and is jointly owned by more than 30 brokerages – would raise 5.3 billion pesos ($510 million), according to the preliminary prospectus.
A stock exchange official would not say when the offer would be made.
Executives had announced plans to go public in 2006, but then delayed the exchange's market debut.
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 and technology-driven industry.
Mexico's exchange, like others around the world, has expanded its reach by creating alliances with European and U.S. exchanges and increasing its trading in futures, options and other derivatives.
($1 – 10.38 pesos)
(Editing by Maureen Bavdek) |
| |
|
Vallarta Weddings
Tell a Friend
Site Map
Print this Page
Email Us