MONTERREY, Mexico, July 1, 2015 (GLOBE NEWSWIRE) -- Nemak, S.A.B. de C.V., a leading provider of innovative light-weighting solutions for the global automotive industry ("Nemak"), is pleased to announce the successful completion of its Ps. 10,752 million initial public offering ("IPO") of common stock and granting of an overallotment option of Ps. 1,612.8 million to the placement agents.
The shares were listed on the Mexican Stock Exchange (BMV), where they began trading at Ps. 20 under the ticker ‟NEMAK". The shares were sold in Mexico and internationally pursuant to Rule 144A and Regulation S. Nemak sold 537,600,000 new ordinary shares as a result of the offering and granted an overallotment option of 80,640,000 new ordinary shares to the placement agents.
Alvaro Fernandez Garza, CEO of Alfa, commented: "We are pleased with the acceptance Nemak's IPO had among the financial community. We are confident that by investing their resources in our company, investors will share with us Nemak's bright future."
Armando Tamez Martinez, CEO of Nemak, commented: ‟This IPO marks an important new chapter in Nemak´s history. It is a key milestone within our strategy and will support our strategic growth plans—including capacity expansions in all our markets, increasing our in-house machining capabilities and developing our structural components business—while diversifying our sources of funding. I am confident that we are well-positioned to build upon our proven track record in the automotive industry."
Nemak is a leading provider of innovative light-weighting solutions for the global automotive industry specializing in the development and manufacturing of aluminum components for powertrain and body structure applications. As of 2014, the company employed more than 20,000 people at 35 facilities worldwide and generated revenues of U.S. $4.6 billion. For more information about Nemak, visit: http://www.nemak.com