Aeroméxico suffers a historic stock market crash; stock sinks 76%

Aeroméxico suffered a historic crash this Thursday in the Mexican Stock Exchange, after it announced the completion of a Public Offer of Acquisitions (OPA) as part of its financial restructuring process and pending the resolution of the Bankruptcy Court in relation to its process under Chapter 11.

The airline's shares plummeted 76% during this day and traded at a record low of 90 cents, after closing yesterday at 3.69 pesos, according to information from Investing.

The titles have recovered part of the losses in the last hours and are exchanged at 1.82 pesos, which implies a collapse of 51% compared to yesterday.

This Thursday, an Aeroméxico shareholder launched a public offer to acquire the airline's shares, to give the current shareholders an option to exit the share capital before the airline's new Joint Restructuring Plan begins, which will bring about consequently the dilution of the current shares.

Grupo Aeroméxico informed that, derived from the approval on December 10 of the Declaration of Disclosure of the Joint Restructuring Plan of the airline and its subsidiaries, "a company not related to the company" will be initiating procedures before the National Banking and Security Commission. Securities and the Mexican Stock Exchange to make a public offer for the acquisition of shares.

The same that will be voluntary and would be carried out in terms of article 97 and other applicable provisions of the Securities Market Law, to give current shareholders an option to exit the capital stock prior to the capitalization of various liabilities in charge of Aeroméxico and its subsidiaries. and new contributions to share capital.

This will substantially dilute the airline's current shares upon exiting Chapter 11.

The offer would be made at one peso cent in national currency, for each of Aeroméxico's outstanding shares.

Delta Airlines will not participate in the offer, for which a maximum of 331 million 480 thousand 713 shares are expected to be acquired, which would represent, if applicable, up to 49% of the capital prior to the effects of dilution due to the implementation of the Plan. .

Said shares as a whole will represent less than 0.01% of the total future shares representing the company's capital stock, given the dilution due to capitalization of liabilities and new contributions of capital stock and eventual subscription by other shareholders and investors.

The offer would be settled and consummated after the date of the Shareholders' Meeting and will have full legal effect until the closing date and effectiveness of the Plan, that is, after the consummation of the offer.

In such a way that the shareholders who maintain ownership of the future shares representing the capital stock of Aeroméxico, after the effective date of the plan and the consequent dilution of the current capital stock of the company, have certainty of their expected shareholding.

Aeroméxico added that among the new shareholders in its Joint Restructuring Plan will be a group of Mexican shareholders with 4.10% of the airline's capital stock; Apollo with 22.38% and Delta Airlines with 20%; and the rest distributed among all the new investors and creditors who capitalize their recognized credits in representative shares of the airline's future capital stock.

The offer will be sponsored with funds received by the offeror, coordinated with Aeroméxico and subject to a schedule that allows the current shareholders of the airline to have the opportunity to dispose of their shares, through the stock market, before the restructuring plan is carried out. cash.ml