Mexican Trucker Traxion to Sell Stock Amid Nearshoring Trend
- First Mexico secondary offering by a company in over two years
- Firm taps local stock market amid nearshoring trend optimism
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Mexican trucking and logistics firm Grupo Traxion said it would sell new stock amid a revival of share offerings from companies seeking to tap the buzz over the migration of manufacturers to the country.
Traxion will offer up to 164.9 million shares in Mexico, it said in a filing on Tuesday. That represents about 30% of outstanding stock, according to data compiled by Bloomberg. The share sale is planned for Aug. 10 following a series of roadshows in Mexico, the US and Europe, the company’s head of investor relations Antonio Tejedo said in a message.