Bolsa Mexicana de Valores S.A.B.

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Bolsa Mexicana de Valores S.A.B.
BMVSAB.jpg
Founded June 2008 as listed company
Headquarters Mexico City
Key People Chairman Luis Téllez
Products Trading exchanges and services
Website http://www.bmv.com.mx/

Template:Infobox Midpage Need Sponsor Right Bolsa Mexicana de Valores S.A.B. (BMVSAB) sprang originally from the Mexican Stock Exchange (MSE) and is now a fully fledged publicly traded exchange operations company following an initial public offering (IPO) by the Mexican government in mid-2008. BMV owns not only the MSE - also confusingly known locally as the Bolsa Mexicana de Valores - but all the other important exchanges Mexico plus their main clearing-house.

Background[edit]

Bolsa Mexicana de Valores S.A.B. became a listed company on June 13, 2008 after a successful IPO in which over 13,600 investors purchased shares at 16.5 Mexican pesos each.[1] The Mexican Stock Exchange was owned for 114 years by a group of Mexican banks and brokerages prior to BMVSAB's $388 million IPO. BMVSAB's A shares joined the Mexican Stock Exchange's benchmark IPC Index as one of the couintry's top 35 stocks.

Key subsidiaries[edit]

Key people[edit]

On March 25, 2009 the Mexican government named long-time political operative and former Secretary of Communications and Transportation Luis Téllez as chairman of BMVSAB.[2] The announcement came just a few weeks after Mexican President Felipe Calderón was forced to announce Téllez's resignation as a government minister following a financial scandal.[3] Téllez joined the long-ruling Institutional Revolutionary Party (PRI) in 1980 and rose to serve as Secretary of Energy under President Ernesto Zedillo from 1997 to 2000 before being appointed managing director of private equity powerhouse The Carlyle Group. He replaced Guillermo Prieto, who took over in 2001 and later engineered the 2008 IPO but after presided over a 51% stock price decline.

Latest News[edit]

BMVSAB's main exchange business, the Mexican Stock Exchange, showed improvement in some key market indicators over the second quarter of 2009 following precipitous falls in previous months.[4] According to the report, the IPC Index rose slightly from 24,331.71 at the end of May to 24,368.38 by the end of June and has produced a yield of 11.7% so far over 2009, comparable to the world's best-performing stock markets.

References[edit]