Aeroméxico will Delist its Shares
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Aeroméxico will Delist its Shares

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Emilio Aristegui By Emilio Aristegui | Junior Journalist and Industry Analyst - Thu, 07/14/2022 - 10:40

Aeroméxico continues its restructuring process under Chapter 11, which includes the cancellation of its listing with the Mexican Stock Exchange Securities as agreed by the General Assembly of Extraordinary Shareholders Meeting held on June 27, 2022.

The airline informed of “the obligations under the Rights Agreement Registration (RRA) signed by the Company with its former creditors and investors, now shareholders, and approval to delist and, subsequently, cancel the registry of the shares of Aeroméxico before the National Securities Registry,” said Aeroméxico via a press release.

Aeroméxico reported compliance with the provisions of the plan’s documents and presented a formal request before the National Banking and Securities Commission seeking authorization to land a compulsory public offer the acquisition of shares in terms of article 108, section II of the Securities Market Law.

“The Offer will be addressed solely and exclusively to holders of shares that are not owned by the shareholders that maintain control of the Company; nor owned by the shareholders who are part of the RRA, so any shareholder who is not part of the above groups will have the right, but not the obligation, to participate and accept the Offer, in the terms and under the conditions that foreseen in the Informative Brochure of the Offer, to be published at the time,” said the airline on its press release.

Aeroméxico stated that the sale of shares aims to increase liquidity, which would aid the representative share of the airline’s capital stock. According to the airline’s plan, the delisting of shares must begin no later than Dec. 30, 2022.

Photo by:   Image by LN_Photoart from Pixabay

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