Mexico's tech startups may be enjoying a boom, but its top stars are unlikely to list on the country's own stock market, the national exchange's chief executive told Reuters in an interview last week.
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Mexican startups like Stori and Kavak helped raise a record $3 billion last year, according to entrepreneur group Endeavour, but getting Mexican startups to list locally − even in a bull market − will be a tall order, said Jose Oriol Bosch, CEO of Bolsa Mexicana de Valores.
"It would have been a disaster if one of the Mexican unicorns had listed here," he said. "(Investors) wouldn't pay the valuation multiples that they end up paying on the Nasdaq."
He added, "If I were a unicorn (founder) … I would also go (to the US)."
His comments come as the Mexican exchange, Latin America's second-largest national stock market, faces a shortage of new stock offerings, having failed to host a single IPO since 2017, as well as seeing a string of recent delistings such as Aeromexico.
