In a statement sent to the Mexican Stock Exchange (BMV), the animal protein producer said that it filed Form 15F with the US Securities and Exchange Commission (SEC) on April 24, 2023, with the effect of immediately suspending its security obligations. reporting under the United States Securities Law.
Therefore, it will not file an annual report under form 20-F with the SEC, corresponding to the fiscal year ended December 31, 2022.
“Bachoco continues with its reporting obligations in Mexico, so it will be presenting its annual report in Mexico on a regular basis,” he said.
Industrias Bachoco debuted on the Mexican Stock Exchange and the New York Stock Exchange (NYSE) in September 1997. After 25 years in the stock market, Bachoco’s controlling family made public its intentions to take the company off the stock market, without revealing the motive behind this move. This, however, does not mean that the issuer will disappear from the Stock Market, since it still has the debt market as an option.
In Mexico, the process of delisting from the BMV continues. The Robinson Bours family, which presides over the company, acquired a share package that represents 8% of the issuer’s capital stock, bringing its participation percentage to 95.7%.
The controlling party of Bachoco needed to have at least 95% to start the delisting procedure before the authorities.