The decline of Lasites in two weeks exceeds that of most local stations in a year

During its nascent time as an issuer on the Mexican Stock Exchange (BMV), the actions of Sitios Latam, spin-off of the telecommunications giant America Movilaccumulate a drop of 67%, from 16.51 pesos to less than 6 pesos.

The fall of this new action exceeds even those accumulated by some of the companies hardest hit this year. For example, Cemexweakened by inflation, has gone from 13.99 pesos to 6.59 pesos, with a loss of 53.4 percent.

Few losses in Mexico compare with that of this new issuer. above is Unifinwith a drop of more than 90% caused by factors in its sector, which also brought down other companies, among which Real Credit.

• Unifin 95.46%
• Lasites 67%
• Volaris 60.3%
• Cemex 53.4%
• TV 47%

continuous descents

The company that ended a nearly five-year drought without Initial Public Offerings (Description) in the local stock market has aroused no appetite among investors, who have preferred to take advantage and collect the “gift” for the arrival of the firm.

It should be remembered that after the split announcement, América Móvil decided that it would deliver one share of Sitios Latam for every 20 of its shares in the hands of investors. With market sentiment dominated by pessimism, selling has been a constant.

Virtually all of his time on the Lasites exchange has been spent on continuous descents. The reason, for some analysts, is that it was not listed in the United States and this deprived institutional investors of the possibility of acquiring its shares.

With 3,181,200,000 shares in circulation from a price of 16.51 pesos, its capitalization value has gone from 52,521,612,000 pesos to 17,496,600,000 pesos, with a loss in market value of 35,025,12,000 pesos.

Lasites operates 29,0000 towers in 13 countries with assets of 93,416 million pesos. This means that the capitalization value has been reduced by more than a third of the value of these assets, without having yet presented a single quarterly report.

But despite the fact that the fall in the stock market of this company has been one of the most mentioned events by the specialized media, in these two weeks of operation, for some it was to be expected that the share of Lasites would be pressured downwards.

“In an environment in which all sectors are punished, it is normal for these types of falls to occur. We are facing a market inertia in which risky assets are wanted out of the portfolio”, said Edgar Arenas, author of the book Investing and Understanding.

jose.rivera@eleconomista.mx