Geo gets approval to trade shares again

Mexican homebuilder Geo , which recently restructured its debt, said on Wednesday the country's financial market regulator had agreed to lift the suspension of its shares from next week.

Shares in the company will be eligible to trade on the stock exchange from Dec. 16, taking the reference price of 9.72925739 pesos into account, Geo said in a statement.

Geo's shares stopped trading on the exchange in July 2013 when the company failed to meet its quarterly reporting requirements.

The company was once the biggest homebuilder in Mexico, but it later struggled with slumping sales and mounting debt.

Geo said last month it had won shareholder approval to raise up to 3.5 billion pesos ($205 million) in fresh capital to bring its operations back to normal and boost growth.