| | |  Business News 
Mexico Will Have as Many as Nine IPOs Through Next Year, Bolsa CEO Says
 Andres R. Martinez & Jonathan Roeder - Bloomberg
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August 03, 2010
| | Luis Tellez, chief executive officer of Bolsa Mexicana de Valores SAB, listens during an interview in Mexico City. (Susana Gonzalez/Bloomberg) | |
Mexico will have as many as nine more initial public offerings through the end of next year, said Luis Tellez, chief executive officer of Bolsa Mexicana de Valores SAB.
Two companies may sell shares by year-end and as many as seven will hold IPOs in 2011, Tellez said in an interview at Bloomberg’s Mexico City office. The Bolsa is Latin America’s second-largest bourse after Brazil’s Bovespa.
“Next year, the number may be a little bigger, maybe six or seven companies that could enter the Mexican market,” Tellez said. “One of them is very big.”
Grupo Comercial Chedraui SAB, a Mexican supermarket operator, broke a 22-month drought when it sold shares in an initial offering in April, raising $373.2 million. It was the largest since billionaire Carlos Slim’s Carso Infraestructura y Construccion SAB sold $433.7 million in 2005. The exchange went public in 2008, raising $348.8 million.
Banco Santander SA raised the Bolsa’s rating to “buy” from “hold” last month, citing the company’s better-than- expected second-quarter earnings. Net income was 154 million pesos ($12.3 million), the company said on July 19.
The IPC Index was little changed today at 32,823.33. The gauge has gained 2.2 percent this year.
The Mexican and Chilean stock exchanges have agreed to cross-list shares, and traders at the CME Group Inc., the world’s largest futures market, and the Bolsa will have access to each other’s derivative contracts by February, Tellez said.
To contact the reporter on this story: Andres R. Martinez in Mexico City at amartinez28(at)bloomberg.net; Jonathan Roeder in Mexico City at jroeder(at)bloomberg.net
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