Actions of Club America, one of the teams football Mexico’s most popular company and the first company to be listed on the local stock exchange soared on Tuesday in its stock market debut, tripling its value in just a few hours of negotiations after splitting from media giant Grupo Televisa.
Ollamani titles AGUILASCPO.MX, which controls the activities of the club and its symbolic Azteca stadium, as well as the bookmaking and publishing activities of the largest television station in the country, They closed at 29.53 pesos, significantly higher from starting price 11.50 pcs.although in a day they managed to climb 34.50 pesos.
“This is the euphoria of the first day of trading, I would not see it as a matter of investors seeing significant growth in earnings, in the business, These are rather speculative movements.“Said Jacobo Rodriguez, financial specialist at Roga Capital.
“We saw that the domestic price should be around 17 pesos, we will have to see how it corrects in the coming days.”
The sharp increase in the exchange rate led to the stock market suspending negotiations on securities several times because They significantly exceeded the parameter set by the Mexican market for intraday change.
Both Ollamany and Grupo Televisa, which retained several television channels as well as satellite, cable and internet divisions, said the separation would allow both companies to focus on their respective industries.
“With this action, Allamani companies will be able to focus their resources on improving and strengthening their position in the markets in which they participate, as well as take advantage of opportunities to obtain capital,” said Sergio Arrollo, chief financial officer of the new company. . companyat an event at the stock exchange headquarters.
Emilio Azcárraga, president of the board of Televisa and director of Ollamani, said in a statement that the club’s debut on the stock market provided an opportunity for fans to participate as shareholders.
During the day, 3.9 million shares of the new firm were traded, whose market capitalization reached about 4,298.5 million pesos ($252 million) at the close of the session, according to intermediaries.
Here’s how the conglomerate presented itself when it went public (video):
BREATHING TO THE MARKET
América, the first club in the Mexican league to go public, is the most successful team in local football with 14 championships, and its stadium, the largest in the country with a capacity of 81,070, has hosted two World Cup finals, in 1970 and 1970. 1986, as well as various public events.
FIFA recently announced it will host the opening match of the 2026 World Cup, co-hosted by Canada, the United States and Mexico, and experts hope the deal will help attract fresh resources for its estimated $150 million renovation.
“We are very proud and happy,” said Mexican Stock Exchange President Marcos Martinez. “With this listing, Águilas becomes the first Mexican football team to be listed on the stock market and joins the sporting elite of the stock market world,” he added.
Other important international football clubs are also listed on various stock exchanges, such as the Italian Juventus and the English Manchester United.
The operation provides respite to the Mexican stock market, which has not had an initial public offering (IPO) for years and has instead seen a growing number of companies delist or initiate procedures to do so.
Property investment trust Fibra Next was expected to debut on the stock market in January after an unexpected trading halt late last year. Reuters / Noe Torres and Ana Isabel Martinez.
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
