The actions of Grupo Éxito This year they will join those of other companies such as Ecopetrol, Grupo Aval, Bancolombia and Tecnoglass, which today will be listed on the world’s largest stock market, the New York Stock Exchange. And although the purpose of the owners of the warehouse chain, one of the most important in Colombia, is to give greater liquidity to the company’s shares, this is not the only thing pursued with this strategy.
(Also read: Grupo Éxito wants to list its shares in the United States)
The listing of the Éxito share on the Wall Street stock market is in its initial stage, so the approval of the market authorities of the United States, the Securities and Exchange Commission (SEC), is expected. which may be realized in the middle of the third quarter of this year.
This movement, which would make Éxito the first company in the country to be listed on the stock markets of the United States, Brazil and Colombia at the same time, is part of the strategy announced since August of last year by the Companhia Brasileira de Distribuição (GPA). .
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GPA plans, within this strategy, a capital reduction, which will allow it to reduce close to 83 percent of Éxito’s capital to its more than 50,000 shareholders, who in proportion to their participation in the capital stock of GPA and would receive their shares in Éxito through Depósito Americanos Nivel II (ADR) or Brazilian Depositary Receipts Level II (BDR).
“The distribution of BDRs and ADRs to GPA’s shareholders resulting from its capital reduction will take place once the SEC effectively makes the registration statement related to the ADRs, the NYSE approves Éxito’s listing application and the local authorities approve share transfers to ADR and BDR programs.
The shares of Grupo Éxito are also listed on the Sao Paulo Stock Exchange.
share cross
The weight of the GPA of taking the shares of Grupo Éxito to the New York Stock Exchange is that by having investors in both Brazil and the United States, it must distribute the shares of the warehouse company ratio that are equivalent in each market , that is, with BDR and ADR, respectively.
Omar Suárez, manager of Variable Income Strategy at the brokerage firm Casa de Bolsa, said that Listing its shares in the United States has a different purpose for Éxito than it can be for a company like Ecopetrol, Bancolombia or Grupo Aval.
Éxito does not want to list there, what happens is that GPA, its main shareholder, will spin off part of its operation and distribute the majority of Grupo Éxito shares to its shareholders and only keep 13 percent of the company. AND Since the GPA share is listed in Brazil and the United States, logically it has to distribute those Éxito shares in the country where they have the GPA title. Shareholders who bought GPA in New York have to be delivered Éxito shares, which is why Éxito will end ADRs in the United States,” said the analyst, after adding that the same happens with investors who bought GPA in Brazil, to whom the BDR of Success should be delivered.
Something in which Camilo Thomas, director of Variable Income of Grupo Alianza, agreed, who commented, for his part, that without a doubt GPA also intended to unlock something of value and improve the liquidity of the Éxito share, through the spin-off that they already announced to pass the shares to GPA partners both in Brazil and in the United States and for this it is essential to be listed on Wall Street.
Grupo Aval’s shares are also listed on the New York Stock Exchange, a market it entered in September 2014.
Other companies on the New York Stock Exchange
With the arrival of Grupo Éxito on the New York Stock Exchange, several Colombian companies are already listing their titles on that stock market, considered the most important in the world. Among these is that of the Colombian oil company Ecopetrol, which began trading in September 2008.
The first entity in the country to set foot on said stock market was Bancolombia on July 25, 1995, although by then it operated as Banco Industrial Colombiano (BIC).
Another of the Colombian companies to reach Wall Street is Grupo Aval, which did so in September 2014, which, together with Ecopetrol and Bancolombia, are the three most liquid shares of national companies trading in said market.
Tecnoglass, which began trading on the Nasdaq in the United States, took its titles to the New York Stock Exchange in the middle of last year. The multinational came to the Nasdaq in 2013, and its first bell ringing was in 2014. Last year it happened again, due to the good performance of the stock there. The third came after the listing of the company’s shares on the New York Stock Exchange (NYSE) on May 9, at the invitation of this stock exchange.
The Nasdaq, the second largest stock market in the United States, where high-tech companies in electronics, information technology, telecommunications and biotechnology, among others, are listed, the shares of Clever Leaves and Procaps are listed.
Canacol and Mineros are listed on the Canada Stock Exchange. The first of these companies began trading its shares in mid-February 2014, while the second did so on November 19, 2021.
