The Superintendency of the Securities Market says that pension funds are now cleared to be invested in public offering of shares by companies listed in the Dominican Republic’s Securities Market Registry. Cesar Iglesias S.A. is the first company to benefit from the measure. It produces consumer goods under the brands of Brillante, Bolazul, Pastas del Cesar, Bingo, Caña Linda, CloroSol, Domino, Del Frutal Doramas, among others.
The placement of César Iglesias’ shares is a milestone for the securities market. The measure is intended to invigorate the economy and open the doors for more companies to access financing through the stock market.
Cesar Iglesias S.A.’s offering is the first authorized by the Superintendency of the Securities Market under Law 249-17. Cesar Iglesias SA offers the Reservas I Closed-end Development Investment Fund, both registered in the Dominican Republic’s Securities Market Registry.
The Risk and Investment Limits Classification Commission recently approved investing in public offering of shares as an investment alternative for pension funds. “This new investment alternative will contribute to improve the diversification of the portfolios of pension funds by optimizing the risk-return ratio of contributing to the development of the local short and medium-term securities market,” the Superintendency of the Securities Market states in a press release.
In April of this year, César Iglesias became the first organization in the Dominican Republic to offer its shares for sale to the public. A first ordinary issuance program was approved in the stock market, after a rigorous process carried out by the Superintendencia del Mercado de Valores (Superintendency of the Securities Market).
The issue was structured by BHD León Puesto de Bolsa, together with Inversiones Popular Puesto de Bolsa, who acted as co-managers of the placement, while the firm Investa Capital Partners acted as financial advisor.
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Cesar Iglesias
El Dia
15 December 2022