| | |  Business News | September 2009 
Mexico's Homex Says Could Sell Shares or Debt
 Noel Randewich - Reuters
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September 30, 2009
Mexico City - Mexican homebuilder Homex, hit earlier this year by a slumping economy, could sell debt or shares over the next three years to raise working capital, according to a filing with U.S. regulators.
Culiacan-based Homex (HXM.N) (HOMEX.MX), one of Mexico's leading home development companies, said in a shelf filing, with the U.S. Securities and Exchange Commission which was dated Sept. 25 that it could sell debt or shares and that controlling shareholders could also sell stock.
"At this moment, we are not making any placement. We are simply following our external lawyers' recommendation," Homex told Reuters by email.
Homex did not say how much debt or stock it might eventually sell or when any possible sale could happen.
"We will apply the net proceeds from any sales of the securities offered by us under this prospectus and any prospectus supplement to working capital and general corporate purposes," Homex said in the filing.
Homex, which specializes in mass-producing houses that sell for less than $40,000 each, saw net profit drop 7.7 percent in the second quarter as it spent more to attract business in a slumping economy.
Shares of Homex closed up 1.01 pct at 85.830 pesos in Mexico City.
(Editing by Gerald E. McCormick and Carol Bishopric)
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