Mexico’s Alpek seeks to list its stock on public exchange

13 January 2012 23:48  [Source: ICIS news]

MEXICO CITY (ICIS)--Alpek, the petrochemical business of Mexican industrial conglomerate Alfa, announced on Friday its filing with Mexico’s stock exchange, the BMV, to petition for authorisation to list its stock publicly.

The petition is a precursor to a public stock offering, and Friday’s statement indicated the company was also considering making stock available in foreign exchanges.

Total sales for the unit in the first three quarters of 2011 reached pesos (Ps) 67bn ($3.8bn, €3,0bn), about half of Alfa’s entire sales. That represented a 56% increase in sales over the same period in 2010.

Alpek manufactures purified terephthalic acid (PTA), polyethylene terephthalate (PET), polyester, expandable polystyrene (EPS), polypropylene (PP), caprolactam and other products.

($1 = €0.78, $1 = Ps.06)

By: James Young

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