September 1, 2004
Banamex, delisted in 2001
Good news has been almost exactly balanced by bad for the Bolsa Mexicana de Valores, Mexico's stock market, this year. Share prices have performed well and the market has seen its first Initial Public Offerings (IPOs) in many years, most impressively a $155 million placement in June by homebuilder Desarrolladora Homex. But tender offers from large European companies led to the delisting of two large stocks, BBVA Bancomer and Apasco, cutting heavily into trading volumes.
BBVA Bancomer is Mexico's biggest bank and Apasco is the Mexican subsidiary of Swiss-owned cement giant Holcim. Banamex,
A record-setting performance by Mexican stocks has triggered a wave of IPOs, but the market is still shrinking.