墨西哥集团旗下GMXT提议自愿退市

M UpdateGrupo Mexico S.A.B. de C.V. | Latin America GMXT To Propose Voluntary Delisting What's new: GMéxico Transportes (GMXT, 70.27% owned by GMEX) has announced (here) its intent to propose a voluntary delisting from the Mexican Stock Exchange in an Extraordinary General Meeting to take place in June 27, 2PM ET.Impact to our views: The move does not come as a complete surprise as both stock liquidity (last 150 days average daily volume at ~US$0.2m) and investor interest in GMXT shares are very low. As a reference, GMXT is up ~10% from its IPO in late 2017, both in MXN and USD (MXN$34.67/sh, US$1.82, spot vs. MXN$31.50/sh, US$1.66, IPO). In our year-end 2025 sum-of-the-parts approach for GMEX, we value GMXT at US$8.4bn in equity value through a DCF approach (MXN$41/GMXT share), with an implied 6.4x multiple on our US$1.5bn 2026 EBITDA (1x std. dev. below the 5-year historical). A possible silver lining of the proposed GMXT delisting may be that GMexico does not plan to acquire Citiba