Elektra shares fell 70.19% this Monday compared to July 26, the last day they were listed on the Mexican Stock Exchange (BMV) before the company’s securities were suspended from the stock market.
The price per share closed at 281.64 pesos, when in July it was trading at 944.95 pesos, according to information from the BMV.
Grupo Salinas reported in a document sent to the stock exchange that its shares were listed again under the “continuing negotiation” scheme, which caused abnormal movements that generated the fall.
This Monday the shares were listed again on the BMV with a value of 419.20 pesos per share and at the close of the market they were already worth 281.64 pesos, which meant a drop of 32.81% on the same day.
Previously, Ricardo Salinas Pliego’s company reported that the decision of the National Banking and Securities Commission to stop Elektra’s operations on the stock market would generate an “irreparable” loss in the share price.
Subsequently, the company reported that 95% of the company’s shareholders decided to withdraw the company from the Mexican stock market, which could be confirmed during its Ordinary and Extraordinary General Assembly of Shareholders on December 27, where a new advice.
The Salinas Pliego company also indicated that the market has not “correctly” valued the price of its shares.
“The market does not maximize the value of the entity both digitally and physically at a national and international level,” he noted.
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