As companies seek access to lower cost of capital, the private-owned and managed Dominican Republic Stock Market (BVRD) has announced the issue of the first common shares for the CCI Puesto de Bolsa S.A.
Securities Superintendent (SIV) Gabriel Castro described the emission as a landmark in the development of the Dominican capital market. He says this provides investors with an alternative to channel savings.
Castro says that each share comes with the right to vote in the shareholders assembly in proportion to the shares issued, as well as ownership of the social asset if the company were to close, in the reserves and distribution of profits.
The company was approved to issue up to 373,734 shares or 5.26% of the approved capital.
The Superintendence of Securities has approved the issuing of corporate bonds in the primary market in the past.
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