Aeromexico suffers a collapse of more than 70% of its shares due to the public offering

Aeroméxico Group is living one of his worst falls in its shares in the Mexican Stock Exchange (BMV). Until noon this Thursday, December 16, the company it sank to 73.69%, at 0.97 pesos.

This occurred after it reported that a company not related to the company will initiate proceedings before the CNBV and the BMV to carry out a Voluntary takeover bid (OPA) of shares.

In a statement, the Mexican airline that is going through a financial restructuring process stated that the shares subject to the offer will be paid at a price of one cent of weight per unit and contemplates the acquisition of up to 331.5 million shares, equivalent to 49% of the share capital.

Delta Airlines will not have participation in Grupo Aeroméxico’s offer

Despite its fall in the stock market, the company will continue with its initial plan / Photo: Now News The largest airline in Mexico hopes to recover with its new restructuring / Photo: MX

In the same statement, it is made official that the partner of the Mexican airline, Delta Airlines, will not participate in the offer. “The offer is to give current shareholders an option to exit the capital stock prior to the imminent capitalization of various liabilities in charge of Aeroméxico and its subsidiaries,” explained the company.

In addition to that with this offer it also gives “new contributions to the capital stock that will substantially dilute the current shares when leaving its restructuring process under Chapter 11 once the Plan is approved by the Court, and takes effect, ”the airline mentioned in the statement sent to the BMV.

The offer would start prior to the Aeroméxico general shareholders’ meeting, pending call, where it is expected that various corporate actions are approved to implement and make the plan effective, which will include, among other resolutions, a capital increase, capitalization of liabilities and new capital injections.

Changes in Aeroméxico’s financial structure continue

The largest airline in Mexico hopes to recover with its new restructuring / Photo: MX

As we told you in AmericanPost.NewsIn June 2020, the Mexican company initiated a voluntary financial restructuring process under Chapter 11 of the Bankruptcy Code of the United States of America.

“Said process has been carried out in an orderly manner, while we continue to operate as a going concern, to strengthen our financial position and liquidity, protect and preserve our operations and assets, and implement the operational adjustments needed to cope with the impact of COVID-19”Said Grupo Aeroméxico.

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