Sinda joins Mexico's SIC platform after Wall Street IPO

Mexican mining company Sinda joined the Mexican Stock Exchange's International Quotation System (SIC) on September 28. The company is backed by the Baillères family through Fresnillo and is led by President Daniel Muñíz Quintanilla.

The listing came just over three months after Sinda held its initial public offering on Wall Street. Mexican securities law requires foreign-listed issuers to wait at least three months after their original debut and comply with home market rules before joining the local global system.

Since its initial public offering, shares of Sinda have gained 10.29% to reach $13.51, according to Investing data cited on September 29. The company has a market capitalization of around $2 billion.

The SIC platform allows Mexican investors to trade global equities, bonds, and exchange-traded funds. Sinda joins a roster of more than 2,100 listed global companies on the system, which also recently added SpaceX on September 14.