Vitro SAB closed at the highest level in almost 15 years after the company said a court upheld a ruling in a commercial case and speculation mounted that Mexico’s largest glassmaker would settle a separate legal dispute tied to its 2009 default.
Mexican homebuilders Urbi Desarrollos Urbanos SAB and Corp. Geo SAB plunged after Fitch Ratings said it may cut their credit ratings, adding to concern the companies will struggle to adapt to new housing policies.
Billionaire Carlos Slim is seeking to raise about $1 billion in a share offering of his retail and restaurant chain, two people with direct knowledge of the deal said, tapping into demand for Mexican consumer stocks.
Antonio del Valle, the billionaire investor behind chemical maker Mexichem SAB’s 87-fold stock rally over the past decade, said he can turn around the biggest loser in his holdings by buying companies in the fragmented chemical distribution market.
Controladora Comercial Mexicana SAB surged to the highest price since its October 2008 default after a debt restructuring deal bolstered speculation the company may be acquired or merge with a competitor.
Grupo Aeromexico SA, the country’s biggest airline, may raise as much as 2.7 billion pesos ($227 million) in an initial public offering as the company adds routes and buys jets after its largest rival went bankrupt.