MEXICO CITY (Reuters) – Mexico’s lower house on Wednesday passed a bill aimed at revamping national stock exchanges, a long-awaited move meant to boost trading following a spate of delistings from the main market in recent years.
The bill loosens regulations for companies to go public, speeding up the process and reducing the costs involved, said Mexico’s largest market operator, the Bolsa Mexicana de Valores, in a statement.
“This will strengthen financial inclusion and access to financing for Mexican companies, especially small- and medium-sized ones,” Deputy Finance Minister Gabriel Yorio said on social media platform X.
The bill had previously passed in the Senate, and will now be sent to President Andres Manuel Lopez Obrador’s desk to be signed into law.
Just 138 companies are listed on the Bolsa Mexicana de Valores, which has gone six years without a new listing, barring spin-offs. Meanwhile, the smaller Bolsa Institucional de Valores (BIVA) has seen just one listing in that time.
The BMV has bled business in recent years, with former giants such as airline Aeromexico, dairy producer Grupo Lala and retailer Grupo Sanborns taking their operations private.
(Reporting by Kylie Madry and Diego Ore; Editing by Anthony Esposito and Stephen Coates)