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GRUPO SIMEC, S.A. DE C.V LISTS ON THE AMERICAN STOCK EXCHANGE; SECOND MEXICAN COMPANY TO LIST IN THE U.S. IN 1993

 NEW YORK, July 1 /PRNewswire/ -- Grupo Simec, S.A. de C.V., of Guadalajara, Jalisco, Mexico, today commenced trading its American Depositary Shares (ADRs) on the American Stock Exchange. Trading under ticker symbol "SIM," the company's securities opened at 10:45 a.m. Eastern Daylight Time at 15 on 550,000 ADRs. The company has selected AGS Specialist Partners as its specialist firm.
 Grupo Simec, S.A. de C.V. is the leading mini-mill steel producer in Mexico and manufactures a broad range of small and medium non-flat structural steel products. Grupo Simec, S.A. de C.V.'s products are used primarily in the residential, commercial and industrial construction markets.
 This offering consists of 2,100,000 ADRs in the United States, 940,000 ADRs outside the United States and Mexico and 15,200,000 shares of Series B common stock in Mexico. Each ADR represents 20 shares of Series B common stock.
 Nicolas W. Platt, Managing Director for International Marketing at the American Stock Exchange stated, "Grupo Simec represents the second Mexican initial public offering to seek a U.S. listing in 1993. We have been working closely with this company and feel that by listing on the AMEX, Grupo Simec stands to gain the visibility and quality it expects from a U.S. presence."
 Mr. Platt continued, "This listing is the result of a program initiated by the AMEX in mid 1992 to become the dominant marketplace for Latin issues. We believe this listing, along with the 26-year relationship we have had with Tubos de Acero de Mexico highlights the commitment the American stock Exchange has to Mexican issuers."
 The American Stock Exchange occupies a unique niche among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies, as well as a principal market to trade derivatives. No other exchange has balanced traditional and cutting edge trading products. And because of the efficiencies associated with the AMEX auction marketplace, investors of all sizes achieve the greatest value and protection.
 -0- 7/1/93
 /CONTACT: Melissa Grand of American Stock Exchange, 212-306-1635/
 (SIM)


CO: Grupo Simec, S.A. de C.V. ST: IN: MNG SU:

LG -- NY049 -- 7674 07/01/93 11:18 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
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