Mexico eyes tracking stock for state’s Pemex – sources

MEXICO CITY (Reuters) – Mexico is studying the creation of a special class of shares for state oil company Pemex that would trade on the local stock market, according to two people who have seen a government presentation on the subject.

They declined to be identified because they were not authorized to discuss the matter.


The plan, which is in its early stages, calls for Pemex to issue a “tracking stock” which would pay a dividend based on the company’s performance but which would not grant the holder any ownership interest in Pemex or a vote at corporate meetings.

The shares would represent the closest thing to a direct investment in Pemex available to investors since Pemex’s creation after the nationalization of the sector in 1938.

Reuters