MEXICO CITY– TV Azteca, Mexico’s second-largest network, will list its stock on Spain’s Latibex market as of today, the company said.
The Spanish-language producer will be traded under the symbol XTZA.
Simultaneously, electronics retailer Grupo Elektra — which, like Azteca, is owned by Ricardo Salinas Pliego — will begin listing on Latibex. The two companies will have a combined market capitalization of $3.7 billion, Azteca said.
Azteca is already traded on the New York Stock Exchange and Mexico’s Bolsa de Valores, but network executives say listing on Latibex will expose its equity to a new group of potential investors.
Latibex is the only stock market that focuses entirely on Latin American companies, and its location in Spain is designed to draw European investors into the region. Including Azteca and Elektra, seven Mexican companies are traded on the Latibex exchange.
“Incorporation into the Latibex market will allow accessing a universe of savvy European investors,” said Mario San Roman, Azteca’s CEO, in a release.