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Business

ICA Shares Suspended for 2nd Day on the BMV

Trading was suspended after falling 29.75 percent on Thursday

The ICA construction company, one of the leaders in its field in Mexico, is facing stark financial difficulties, photo: CAPITAL MEDIA
By Notimex Whatsapp Twitter Facebook Share
2 years ago

MEXICO CITY — For the second consecutive day, ICA shares were suspended on the Mexican Stock Exchange (BMV), which recorded a drop of almost 30 percent in response to the uncertainty of investors for the Mexican construction company’s restructuring of its debt.

Trading was suspended after falling 29.75 percent on Thursday.

Last December, ICA failed to pay interest on a bond payment and this February saw another missed payment. It announced a plan to cut costs and restructure its debt, which at the end of September was 57.9 billion pesos ($3.2 billion).

The company warned in its annual report, delivered to the BMV, that their lack of liquidity could affect its operating capacity.

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