Mexico Stocks: Bio Pappel, Sare, Pochteca Shares Were Active
The following companies are having unusual price changes in Mexico City trading. Stock symbols are in parentheses, and prices are as of the close of trading.
The IPC index fell 0.8 percent to 40,040.69.
Bio Pappel SAB (PAPPEL*) surged 7.8 percent to 7.20 pesos, the biggest advance since September. A member of its control group acquired 23 million shares in the second quarter, according to a statement sent today to the Mexican bourse. The control group now has 82 percent of the company, the company said.
Sare Holding SAB (SAREB) , a Mexican homebuilder, climbed 9.5 percent to 1.62 pesos after climbing as much as 20 percent earlier in the day, the highest level since 2008. Beamonte Investments Inc. plans to make a bid to buy Sare as soon as July 18, Luis Trevino, managing director for Latin America at the Boston-based private equity company, said in a telephone interview yesterday.
America Movil SAB (AMXL) fell 1.4 percent to 17.31 pesos, after earlier dropping as much as 2.2 percent in the steepest decline since June 1. The company’s Telmex unit may have to wait until 2014 for a legal decision on its request for a license to offer pay-television service in Mexico, the newspaper Reforma said, citing a lawyer specializing in telecommunications.
Pochteca SAB (POCHTECB) , the Mexico City-based distributor of industrial greases and solvents, soared 12.6 percent to 2.69 pesos, the most on the IRT Small Capitalization index. Antonio del Valle, who invested in a 300 million peso capital increase for the company in April, said the company would pursue acquisition-driven growth in a June 21 telephone interview from Mexico City.
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