Grupo Mexico, Multiplan, Genomma Lab: Latin Equity

By Hugh Collins

Sept. 25 (Bloomberg) -- The following companies may have unusual price changes today in Latin American trading. Stock symbols are in parentheses and share prices reflect the previous close.

The MSCI Latin America Index fell 1.2 percent to 3,573.16. In Brazil, preferred shares usually are the most-traded class of stock.

Brazil

Itau Unibanco Holding SA (ITUB4 BS): Brazil’s largest non- government bank plans to open as many as 150 branches next year as Brazil’s economy grows faster, Chief Executive Officer Roberto Setubal said in Sao Paulo. Itau fell 1 percent to 33.15 reais.

Multiplan Empreendimentos Imobiliarios SA (MULT3 BS): The Brazilian real estate developer is raising 792.4 million reais ($440.1 million) in a share offering. The company is selling 29.9 million common shares for 26.50 reais each, according to details posted on the securities regulator Web site. Multiplan rose 1.9 percent to 27 reais.

Colombia

Textiles Fabricato Tejicondor SA (FABRI CB): Venezuelan President Hugo Chavez said it will be “difficult” to improve relations with Colombian President Alvaro Uribe, and that trade between the neighboring countries will fall to “zero.” Venezuela is Fabricato’s biggest export market. The shares slid 0.5 percent to 20.2 pesos.

Grupo Nacional de Chocolates SA (CHOCOLA CB): Colombia’s biggest food producer is “aggressively” seeking acquisitions, according to Chief Financial Officer Ana Maria Giraldo. The company is seeking opportunities in the Andean region, the Caribbean, Mexico, and the U.S., she said on the sidelines of a conference. Chocolates fell 1.7 percent to 22,520 pesos.

Mexico

Genomma Lab Internacional SAB (LABB MM): The producer of over-the-counter drugs was rated “buy” in new coverage at IXE Grupo Financiero SA. IXE analyst Raquel Moscoso cited the company’s “strong” financial position and the expected impact of an alliance with Grupo Televisa SA for the rating. Moscoso set a share price estimate of 23.50 pesos for the end of 2010. Genomma Lab rose 0.1 percent to 18 pesos.

Grupo Mexico SAB (GMEXICOB MM): The latest offer from Sterlite Industries (India) Ltd. to buy Grupo Mexico’s bankrupt Asarco LLC unit should be ignored by the court that will make the final decision, a bankruptcy court judge said in an opinion issued yesterday. Grupo Mexico, the country’s largest miner, fell 4.7 percent to 25.09 pesos.

To contact the reporter on this story: Hugh Collins in Mexico City at Hcollins8@bloomberg.net