BYD, the prominent Chinese automobile company, has announced its intention to enter the Mexican market through a request to list its shares in the International Quotation System (SIC) of the Mexican Stock Exchange (BMV).
The firm plans to begin trading its shares on June 10, with an initial price of 230.6 Hong Kong dollars, equivalent to the last listing on June 3 on the Hong Kong Stock Exchange, where it already operates under the symbol 1211.
The move will allow Shenzhen-based BYD, which held its initial public offering in Hong Kong in July 2002, to market its shares in Mexico in a similar manner to how it does in its original Asian market.
Currently, the company has a “float” of 1,098 million titles for the N series, as detailed in the document presented to the BMV.
The Finamex Brokerage House will act as a representative of BYD in operations in the Mexican market, thus facilitating the integration of the shipowner into the local financial system.
This step represents a significant effort by BYD to expand its reach in Latin America and diversify its financing sources and investor base.
BYD’s entry into the BMV’s SIC is not only a testament to the company’s growth and internationalization, but also reflects the increasing globalization of financial markets, allowing Mexican investors to participate in the growth of international companies without leaving their local market.
Furthermore, this move can be seen as a sign of growing interest on the part of technology companies and automotive in emerging marketswhich offer new growth opportunities in the midst of an increasingly competitive global landscape.
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