Club América’s shares surge 100% in their debut on the Mexican Stock Exchange (BMV)
Club América’s shares surge 100% in their debut on the Mexican Stock Exchange (BMV)
The Club América’s shares were surging strongly Tuesday afternoon in their debut on the Mexican Stock Exchange, following their split from the media giant Grupo Televisa.
The shares of the Águilas soar in their debut on the Mexican Stock Exchange (BMV). In the first hours of trading, they surge by 100%, trading at 23 pesos from the initial 11.50 pesos they started with on their first trading day.
“We are very pleased to be able to fly together on the Mexican Stock Exchange, to be pioneers of this idea, and hopefully, we can continue forward,” said Emilio Azcárraga Jean, Chairman of the Board of Grupo Televisa, during the bell-ringing ceremony to celebrate the start of trading of the Águilas on the stock exchange.
At 9:09 am, the shares issued by Club President Ollamani, which controls the operations of the club and the iconic Estadio Azteca, as well as the businesses of the Play City casinos and publishing—featuring publications like TVyNovelas, Vanidades, Caras, Cocina Fácil, Tú, Soccer Manía, among others—were trading at 20.79 pesos, with an 100% jump from their opening price.
Shortly afterward, they were trading at 22.90 pesos, doubling their value compared to the opening price of 11.50 units per share, during their first hour of trading on Tuesday.
The abrupt appreciation has led the stock exchange to suspend trading of the shares at least three times so far in the session.
The Águilas del América is the first football team to enter the Mexican stock exchange and joins about twenty clubs worldwide that are publicly traded. The most successful cases are Manchester United, Juventus, and the German team Borussia Dortmund.
America is the most successful team in Mexican football with 14 championships, and its stadium, the largest in the country with a capacity of 81,070 spectators, has hosted two World Cup finals, in 1970 and 1986, as well as various massive events.
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