Bachoco Informs About Delisting in the United States
April 24 2023 - 5:15PM
Business Wire
Industrias Bachoco, S.A.B. de C.V. ("Bachoco") (NYSE: IBA; BMV:
BACHOCO). A national leader in the production and marketing of
poultry products and other food products, informs, following
previous announcements, that it has delisted its American
Depositary Receipts (“ADRs”), from the New York Stock Exchange
("NYSE"), and is in the process of terminating its ADR program, and
deregistering and terminating its obligations to prepare and file
reports under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”).
Bachoco filed a Form 15F, before the U.S. Securities and
Exchange Commission (“SEC”) on April 24, 2023, with the effect of
immediately suspending its Exchange Act reporting obligations.
Consequently, Bachoco will not file an annual report on Form 20-F
with the SEC, for the fiscal year ended on December 31, 2022.
Bachoco continues with its reporting obligations in Mexico and
thus, shall be filling, as per usual, its annual report in Mexico
before the Mexican Securities Commission (Comisión Nacional
Bancaria y de Valores), the Mexican Stock Exchange (Bolsa Mexicana
de Valores, S.A.B. de C.V.), and its investors.
COMPANY DESCRIPTION. Industrias Bachoco is a leader in
the poultry industry in Mexico and one of the largest poultry
companies in the world. The Company was founded in 1952, and began
trading on the Mexican Stock Exchange and the New York Exchange in
1997. Corporate offices are located in Celaya, Mexico. Bachoco is
vertically integrated; its main business lines are: chicken, eggs,
balanced feed, pork, among other products. It has more than 1,000
facilities organized into 9 production complexes and 80
distribution centers in Mexico and a production complex in the
United States. It currently generates more than 32,000 direct jobs.
Bachoco has the following ratings: "AAA (MEX)", the highest
rating assigned by Fitch México, S.A. de C.V.; and "HR AAA",
which means that the Issuer or the Issue is of the highest credit
quality and was granted by HR Ratings de México, S.A. de C.V.
DISCLAIMER. The document contains information that could
be deemed forward-looking statements regarding expected future
events and results of the Company. The statements reflect
management's current beliefs based on currently available
information and are not guarantees of future performance and are
based on our estimates and assumptions that are subject to risks
and uncertainties, including those described in the Annual
Information form, which could cause actual results to differ
materially from the forward-looking statements contained herein.
These risks and uncertainties include risks associated with
ownership in the poultry industry, competition for investments in
the poultry industry, shareholder liability, government regulation,
and environmental matters. Accordingly, there can be no assurance
that actual results will be consistent with these forward-looking
statements. Except as required by applicable law, Industrias
Bachoco, S.A.B. de C.V. undertakes no obligation to publicly update
or revise any forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230424005752/en/
IR contact information: maria.jaquez@bachoco.net
andrea.guerrero@bachoco.net T. +52 (461) 618 3555
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