Shareholders Approve Mexican Bolsa IPO

The 24 shareholders of the Bolsa Mexicana de Valores exchange have approved plans to list the company’s shares through an IPO. They have also authorized a restructuring of the company’s different business units, including the Bolsa’s acquisition of stakes in the Mexican derivatives exchange and a securities clearinghouse business. The exchange said it will continue with its plans to list, pending approval from financial authorities. A date has not yet been set. BBVA and UBS Pactual have been hired to advise the Bolsa on the IPO process, which has been estimated to be capable of raising more than $1bn.