BYD to be listed on the Mexican Stock Exchange

MEXICO - BYD filed an application to be listed on the International Quotations System (SIC) of the Mexican Stock Exchange (BMV). With this, the Chinese car company will be able to trade shares in the Mexican market in a manner analogous to those of the Hong Kong Stock Exchange.

In a document submitted to the stock exchange institution, it was indicated that BYD's shares will be traded in Mexico on June 10 through the global market. It also informed that its current float for the N series is 1,098 million shares. They will start with a price of 230.6 Hong Kong dollars, calculated at the close of June 3.

The Chinese carmaker based in the city of Shenzhen made its initial public offering (IPO) on the Hong Kong Stock Exchange in July 2002. Since then, it has been listed on that Asian market under the ticker symbol 1211 and, in parallel, on the stock exchange in the city of its headquarters.

For operations in the Mexican market, BYD will be represented by Casa de Bolsa Finamex, according to the document.

The International Quotations System (SIC) is a platform that allows Mexican investors to buy shares that were listed on other stock exchanges globally. Under this model, shares of companies from all over the world are sold on the BMV, as well as exchange-traded funds (ETFs).

According to Grupo BMV data at the close of 2023, shares with a value of US$331 million were sold in the SIC; of the 15,044 brokered in the market. However, this was an exceptional period, since it usually represents close to 50% of the transactions traded.