Mexico’s renowned soccer team, Club América, has officially entered the stock market, marking a significant milestone as the first publicly listed soccer club in the country. The club was spun off by Grupo Televisa, paving the way for its stock-market debut.
Ollamani: A New Player in the Market
Trading under the local ticker Aguilas, which translates to eagles in Spanish, the newly established company Ollamani encompasses Club América, the iconic Aztec Stadium in Mexico City, Televisa’s gambling division, and its magazine publishing and distribution operations. These assets were part of Televisa’s strategic decision to divest noncore businesses and shift focus towards cable and telecommunications.
Road to Spinoff
After deliberation, Televisa finalized the spinoff of Club América in 2022. In January 2022, following the spinoff decision, Televisa merged its broadcast TV and content arm with U.S.-based Spanish-language network Univision, forming TelevisaUnivision.
Strong Debut
In a pre-market auction, Ollamani’s shares debuted at 11.50 Mexican pesos ($0.67), surging to 29.10 pesos by mid-morning, reflecting investor enthusiasm for the offering. Emilio Azcárraga Jean, CEO of Ollamani and chairman of Televisa, expressed excitement about the club’s reception in the market.
Financial Snapshot
Shareholders of Televisa will receive one Ollamani CPO share for every 20 Televisa CPO shares held. Ollamani reported revenue of 4.49 billion pesos and net profit of 423.7 million pesos in the first nine months of 2023, as per the company’s prospectus. The company intends to potentially leverage debt for Aztec Stadium’s renovation ahead of the 2026 soccer World Cup shared by the U.S., Canada, and Mexico.