BeFra Announces Transfer of Listing of Common Stock to the New York Stock Exchange

Rhea-AI Summary

Betterware de Mexico (BWMX) announced the transfer of its common stock listing from Nasdaq to the New York Stock Exchange (NYSE). The transition will occur on June 7, 2024, with the stock continuing under the ticker symbol 'BWMX'. Luis Campos, Chairman, highlighted the stability and reduced volatility offered by NYSE's hybrid trading model. CEO Andres Campos emphasized the strategic benefits of NYSE's global visibility and advanced market infrastructure. John Tuttle, Vice Chair of NYSE Group, welcomed Betterware, noting the advantages of joining NYSE's global community of leading companies.

Positive

• Transfer to NYSE expected to enhance stability and reduce trading volatility.
• Betterware de Mexico aims to leverage NYSE's global visibility.
• Anticipated benefits from NYSE's world-class technology and human oversight.
• Strategic move aligns with long-term value creation for shareholders.

Negative

• Initial costs and logistical challenges associated with transferring stock listings.
• Potential short-term market uncertainty during the transition period.

GUADALAJARA, Mexico, May 28, 2024 /PRNewswire/ -- Betterware de México, S.A.P.I. de C.V. (Nasdaq: BWMX) ("BeFra" or the "Company") the leading direct-to-consumer company in Mexico through Betterware and Jafra, announced today that the Company will transfer the listing and trading of its common stock to the New York Stock Exchange ("NYSE") from the Nasdaq Stock Market LLC ("Nasdaq"). The Company expects to commence trading as a NYSE-listed company on June 7, 2024 upon market open. The Company's common stock will continue trading under its current ticker symbol "BWMX" after the transfer.

Luis Campos, Chairman of the Board, commented, "We're pleased to announce the transfer of our company's stock listing to the NYSE, one of the world's most prestigious trading platforms, and look forward to the benefit of the stability embodied by the NYSE's well-established hybrid trading model's success in mitigating trading volatility." Andres Campos, BeFra's CEO, commented, "This strategic move reflects our confidence in the NYSE's market infrastructure and global visibility. We look forward to leveraging all the advantages of the NYSE platform, which combines world-class technology with human oversight and accountability, to expand our reach and create long-term value for all of our stockholders."

"We're thrilled to welcome Betterware de Mexico to the New York Stock Exchange," said John Tuttle, Vice Chair, NYSE Group. "As an NYSE-listed company, the company joins a global community of 2,400 icons and disruptors leveraging the visibility and industry-leading market quality our exchange uniquely provides."

About Betterware

Founded in 1995, Betterware de Mexico is the leading direct-to-consumer company in Mexico focused on offering innovative products that solve specific needs related to household organization, practicality, space-saving, and hygiene. Through the acquisition of JAFRA on April 7, 2022, the Company now offers a leading brand of direct-to-consumer in the Beauty market in Mexico and the United States where it offers Fragrances, Color & Cosmetics, Skin Care, and Toiletries. The combined company possesses an asset-light business model with low capital expenditure requirements and a track record of strong profitability, double digit rates of revenue growth and free cash flow generation. Today, the Company distributes its products in Mexico and in the United States of America.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. Forward- looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The words "believe," "anticipate," "intends," "estimate," "potential," "may," "should," "expect" "pending" and similar expressions identify forward- looking statements. The forward-looking statements in this press release are based upon various assumptions. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations.

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SOURCE Betterware de México, S.A.P.I. de C.V.

FAQ

When will Betterware de Mexico (BWMX) transfer its stock listing to NYSE?

Betterware de Mexico (BWMX) will transfer its stock listing to NYSE on June 7, 2024.

What is the ticker symbol for Betterware de Mexico on NYSE?

The ticker symbol for Betterware de Mexico on NYSE will remain 'BWMX'.

Why is Betterware de Mexico transferring its stock to NYSE?

Betterware de Mexico is transferring to NYSE to benefit from its stability, global visibility, and market infrastructure.

What are the expected benefits for Betterware de Mexico listing on NYSE?

The expected benefits include enhanced stability, reduced trading volatility, and leveraging NYSE's global visibility and advanced market infrastructure.