Minera Autlán, Mexico’s primary producer of ferroalloys, plans to increase its capital to US$100 million by issuing new shares to be placed in a public offering, as the company looks for fresh resources to finance investment plans.
In an announcement released Wednesday by the Mexican stock exchange, the company said it plans to propose to its shareholders a capital increase at its next meeting on April 22.
"The public offering of shares will be the primary character, so for those existing shareholders who do not participate in it mean dilution," added the company.
The company, which last year initiated its own generation of electricity with the purchase of Compañía de Energía Mexicana, gave no details of their investment plans.