Last Tuesday, the Public Acquisition Offer (OPA) of TRAXION ( number 5 of the Top 100 of Autotransport® ) was finalized, by which a group of investors concentrated in Pantera Holdings , headed by Aby Lijtszain Chernizky , expressed their intention to acquire 100% of the shares representing the share capital .
Based on information provided by TRAXION, the tender offer allowed the acquisition of 267,011,256 shares representing TRAXION’s share capital, which is equivalent to 49.2% of the 542,382,858 shares in circulation .
One key takeaway from the closing of the tender offer is that TRAXION’s shares will remain listed on the Mexican Stock Exchange (BMV) . “This provides significant stability, and having been delisted would have been a devastating blow to the industry. It’s undoubtedly a positive development, both for the company and the sector as a whole, because it continues to comply with all governance rules and other requirements for publicly traded companies,” commented Rupert Hüttler, partner at the firm Von Wobeser y Sierra , in an interview with T21 .
From the perspective of the expert consulted, TRAXION’s continued presence on the trading floor may send a message to the market that companies with well-defined governance and institutionalization can raise equity capital or even find other sources of financing on the stock exchange.
Regarding the acquisition of 49.2% of the shares, although the total number of outstanding shares was not acquired, Pantera Holdings will have controlling interest in the company , which can be considered a first achievement of the proposal, Hüttler added.
“In times of crisis, companies prefer to have control of their capital, with a vision of knowing where and what to invest; this could also have been a factor in the decision made by TRAXION’s shareholders,” added Rupert Hüttler.
According to the World Federation of Exchanges (WFE) , which tracks stock markets worldwide, 375 issuers participate on the trading floor in Brazil , 371 in Chile, and 197 in Peru, while only 131 companies are listed in Mexico.
As a reference for even more mature markets, in the United States the Nasdaq has 3,357 issuers, while the NYSE index has 2,187.
The maturity of the capital markets is reflected in the representation of certain sectors. While in the United States there are more than 10 issuers related to trucking and in Brazil there are five, in Mexico, the first stock representing this sector, TRAXION , was listed on the Mexican Stock Exchange (BMV) in 2017.
The main image is for illustrative purposes and does not represent the values of the issuers on the BMV.
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