GBM’s Future Expands With SoftBank’s AcquisitionBy Sofía Hanna | Wed, 08/31/2022 - 16:29
In a company statement sent by Grupo Bursátil Mexicano (GBM) to the Mexican Stock Exchange, it was announced that an acquisition for 7.5 percent of the firm by SoftBank, in Japan, has been made official. GBM is a key investments player in Mexico with 90 percent market participation.
GBM success has been possible thanks to its presence in multiple channels; especially with the app gbm+ that allows users to invest from their smartphones. The acquisition by SoftBank was announced in June 2021. However, now that the transaction has been formalized, there is a new possibility for the Japanese firm to acquire an additional 4.88 percent of social capital, opening the possibility to gain in the next three years, approximately, up to 12.38 percent of the company.
The company, currently worth US$1.5 billion, mentioned it will use its capital to further develop its technology, human capital and marketing. As mentioned by GBM in its latest press release, one of the main priorities at the moment is also to incentivize financial education to help close wage and investment gaps. Efforts are being made to grow the part Mexican women play in the country’s finances and investments. The main points being developed include the dissemination of clear information about markets and the provision of webinars and specialized courses.
GBM has conducted an analysis with Dr. Cecilia Parlatore, an academic at New York University, to gain better understanding of gender in investments. “It is very important for women to take control of our investments, as we have a longer life expectancy and less income to build wealth, compared to men. Added to this, many of us still do not see investing as an option,” says Parlatore. “It is critical to work toward closing inequalities and encouraging access to investments for women so they can take control of their finances and generate more and better opportunities for themselves. An important step to achieve this is for financial services to take into account women's needs and objectives when offering new investment products and tools.”
In recent years, GBM has implemented various internal and client-focused initiatives to encourage more women to join the investment community: developing e-books, webinars and courses for women to take control of their money. This has resulted in 61 percent growth in accounts, comparing 1Q21 with 1Q22.