Mexican Building Supplier Plots IPO

Mexican building supply conglomerate Elementia has its eye on an IPO in the medium term, according to local news and wire reports citing remarks from CEO Eduardo Musalem. The intention is unveiled just as Elementia announced the creation of the Cementos Fortaleza cement company. Elementia is 46% owned by Carlos Slim’s Grupo Carso and 54% by Antonio Del Valle, and has focused its fundraising to date on Mexico’s domestic debt market.