Genomma Lab will return to the S&P/BMV IPC index, Carlos Slim’s companies leave

Genoma Laba company dedicated to the commercialization of dermo-cosmetic products, will be back at the exhibition of the S&P/BMV IPCaccording to the preliminary results of the first rebalancing of the year carried out by S&P Dow Jones Indices.

On this occasion, the Operator of Mexican Sites y Latin American sitescompanies that operate telecommunications towers, owned by the entrepreneur Carlos Slim.

With the departure of these two companies, the stock sample of the Mexican stock exchange (BMV) will again be made up of 35 stations, as it has typically been made up.

“If any changes are deemed necessary after the publication of the preliminary results of the rebalancing, these will be updated and communicated in the final notice that will be sent on Friday, March 10, 2023,” the global index provider clarified.

He recalled that the final changes to the S&P/BMV IPC sample will take effect before the market opens next Tuesday, March 21.

Sitios Latinoamérica, which arose from the spin-off of telecommunications towers from América Móvil, was included in the IPC sample at the end of September last year, after having started its direct listing on the Mexican Stock Exchange.

After its entry, the S&P/BMV IPC operated with 36 companies, so with the departure of Telesites and Sitios Latinoamérica and the reintegration of Genomma Lab, the index would once again have 35 broadcasters.

Héctor Carranza, a junior analyst at Actinver Casa de Bolsa, said that the exclusion of Latin America Sites from the sample was because it did not meet the floating market capitalization limit of 8,000 million pesos required to remain. He also breached the liquidity criteria in the last three months.

While Telesites did not meet the average daily traded value (MDTV) of 30,000 million pesos required in the last three and six months to be part of the index. Genomma Lab, on the other hand, does meet the requirement.

For its part, Genomma Lab returns to the stock index after losing its position in the S&P/BMV IPC in September of last year.

Every six months, the composition of the S&P/BMV IPC, of ​​the Mexican Stock Exchange, is reviewed to follow up, under a methodology, the companies that meet the permanence criteria, some of which are having a minimum floating capitalization value of 8,000 million pesos, having operated for more than three months and 95% of the business days of the last six months.