Mexican Broker Plans Local Share Listing

Grupo Financiero Monex plans to privately sell shares Monday to be listed on the Mexican Bolsa, according to an official at the asset manager. The amount has not been set, and the official declines to state the expected value of the transaction. The deal will use the new SAPIB registry. Regulators created the SAPIB designation to give smaller issuers more flexibility in reaching governance standards. It is used for issuance smaller than MXP1bn – most recently in grower Proteak’s MXP790m offer. Monex plans to sell the secondary shares to existing shareholders, employees and institutional investors. It is self-leading the transaction.