Shareholders of the Alfa conglomerate approved the spin-off of Nemak so that it can be listed on the Mexican Stock Exchange (BMV).
In a statement, the company said they accepted the proposal to transfer all of Alfa’s shareholding in Nemak to a new company to be listed on the stock market.
Under the proposal, Alfa shareholders will receive one Nemak-Holding share for each of their Alfa shares, while maintaining their equity interest in the conglomerate.
Since August 10, they made their request to be listed separately on the Mexican Stock Exchange, where they detailed that 4,909.2 million shares will be listed, a paid-to-list capital stock of 35.6 million pesos – this represents the amount of capital fixed minimum of Controller Nemak-.
“This decision marks a new and important step for Nemak. We have been operating as an independent business for some time, both at an operational and financial level, and I am fully convinced that we are ready to embark on this new stage in our history of growth and transformation. “said Armando Tamez, CEO of Nemak.
“We appreciate our shareholders’ vote of confidence in the strategy to unleash the great value potential of Alfa. The approval of this spin-off marks the first step in the transformation process towards independently managed businesses, instead of the structure of a conglomerate, ”said Armando Garza Sada, president of the Alfa Board of Directors.
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