By 12:15 p.m. local time (1800 GMT) Volaris shares were trading at 36.24 pesos each, while Aeromexico shares bottomed out at 1.44 pesos each at 8:41 local time.
The sharp drop in Aeromexico’s stock price and their suspension came after an announcement that the bankrupt airline would sell off its remaining shares to an unnamed third party for 0.01 peso each.
Aeromexico tender offer to value shares at fraction of market value
(Reporting by Kylie Madry and Noé Torres, Editing by Louise Heavens)
((noe.torres@thomsonreuters.com; +52 55 5282 7145; Reuters Messaging: noe.torres.thomsonreuters.com@reuters.net kylie.madry@thomsonreuters.com))
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