Grupo Modelo, the Mexican beer maker, announced late last week that it intends to list its shares on the Madrid and New York stock exchanges.
In a press release, the company said: “Grupo Modelo is making headway in its negotiations with Bank of New York in the United States and with Banco Santander Central Hispano to join Latibex in the Spanish market.”
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The beer maker, Mexico’s largest, plans to list series C shares on both markets, which represents 20% of the company’s share capital and are listed on the Mexican stock exchange.
Grupo Modelo, the maker of Corona beer, posted net profits of $435m between January and September this year.
