MEXICO CITY (Reuters) -Mexican baseball team Diablos Rojos, controlled by the wealthy Harp family, has requested permission to list on the nation’s main stock exchange, documents made public on Tuesday showed. The Diablos Rojos, or Red Devils, are based out of Mexico City. The team sent a prospectus to Mexico’s stock exchange and regulators in […]
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Baseball team Diablos Rojos files for Mexican stock exchange listing
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MEXICO CITY (Reuters) -Mexican baseball team Diablos Rojos, controlled by the wealthy Harp family, has requested permission to list on the nation’s main stock exchange, documents made public on Tuesday showed.
The Diablos Rojos, or Red Devils, are based out of Mexico City. The team sent a prospectus to Mexico’s stock exchange and regulators in July, according to the document published by the Bolsa Mexicana de Valores (BMV) on Tuesday.
The details had previously been confidential.
The team is structured as a so-called Stock Market Investment Promoter (SAPIB), the documents show.
The chair of the exchange, Marcos Martinez, said in an interview published earlier this month that a recent stock market reform by Mexican legislators would lower barriers for smaller firms, such as SAPIBs, to access the market.
The reform is also meant to bring capital back to the nation’s markets, which have dried up in recent years. Alfredo Harp Helu, one of Mexico’s richest men, had previously headed the exchange.
The Diablos Rojos brought in 423.54 million pesos ($20.47 million) in revenue last year, the firm’s prospectus shows.
($1 = 20.6930 Mexican pesos)
(Reporting by Kylie Madry; Editing by Aida Pelaez-Fernandez)