Mexican Financial Group Registers Shares

Grupo Financiero Monex has listed on the Mexican Bolsa, placing 400m shares with a value of MXP20.00 each, says an official at the asset manager. The MXP8bn amount is not new capital, but merely represents existing shares held mostly by company management and employees. Monex is the second Mexican issuer to use the new SAPIB registry, following Proteak’s late June issue. Regulators created the SAPIB designation to give smaller issuers more flexibility in reaching governance standards. Monex self-led the listing.