EconomyFinancialAeroméxico will launch its OPA at a price of...

Aeroméxico will launch its OPA at a price of 1 cent per share

Aeroméxico announced that as of tomorrow, February 15, and until March 14, it will carry out a public offer for the acquisition of shares (OPA) in which the company Alinfra will buy up to 100% of the titles that constitute the capital stock in airline traffic. This is a vehicle approved by the company’s board of directors to release the airline’s current investors before its restructuring plan takes effect, which could almost completely dilute the current shares.

In a public offer notice sent to the Mexican Stock Exchange (BMV), the airline explained that the offer will be for up to 682,119,793 shares, which will be purchased at a fixed price of 0.01 pesos (or one peso cent).

“The shares object of the offer will represent less than 0.01% of the total capital stock of Aeroméxico,” added the airline, referring to the shareholding composition of the company once the measures agreed upon as part of its restructuring plan come into force under Chapter 11 of the US Bankruptcy Code.

The OPA may be extended on one or more occasions if so decided by Alinfra in its role as offeror, which may not be less than a period of five business days. Once the OPA is concluded, Aeroméxico will continue to be subject to the Securities Market Law and other provisions applicable to companies listed on the BMV.

The settlement date of the acquired shares is three business days after the record date, that is, March 18, 2022.

The takeover bid is a step prior to the entry of new capital to Aeroméxico, which will consist of 4,266 million dollars, which implies the issuance of 682 billion new shares.

According to an analysis by Monex Grupo Financiero, this capital increase will lead to the current 682 million shares of Aeroméxico becoming 136.42 shares, with a value of approximately 90,419.9 pesos, which would represent 0.0001% of the new share capital of the company. company.

For this reason, analysts had issued several recommendations for the sale of Aeroméxico shares at market price, which today closed at 1.91 pesos.

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