Elektra, Salinas'ı Sahibi Olduğu İçin İşlemlerin Yeniden Başlamasında %60 Değer Kaybetti
Shares of Mexican retail and banking company Grupo Elektra experienced a dramatic decline of over 60% on Monday. This sharp drop occurred after the Mexican Stock Exchange received instructions from regulators to allow trading to continue despite the implementation of circuit breakers during pre-market trading sessions.
Circuit breakers, designed to prevent excessive volatility, had previously halted trading of the stock for several days. The steep decline in Elektra's share price fell from approximately 944.95 pesos, the last trading price in July, to around 355 pesos, wiping out nearly $4 billion from the fortune of the company's billionaire owner, Ricardo Salinas Pliego.
Salinas, who owns about 75% of Grupo Elektra, saw the value of his shares plummet significantly from $7.6 billion on Friday to an estimated $2.9 billion. As a result, according to the Bloomberg Billionaires Index, his total net worth is now estimated at $6.2 billion.
This financial setback has caused Salinas to drop from being the third richest person in Mexico to fourth place, now behind Alejandro Bailleres. Previously, Salinas ranked just behind Carlos Slim and German Larrea in terms of wealth.
The halt of transactions led to Grupo Elektra's removal from Mexico's benchmark stock index, exposing the company to potential losses due to adjustments made by funds tracking the index.
Grupo Elektra claimed in a statement on Monday morning that it had a court ruling preventing the resumption of trading and warned that anyone who attempted to trade its shares could face legal consequences. The company has not yet provided further comments upon request for additional information.
In the backdrop of these events, Grupo Elektra announced last week its plans to hold a meeting at the end of December to discuss the possibility of privatizing the company.