César Iglesias, a leading Dominican consumer goods company, made history by becoming the first business in the Dominican Republic to sell its shares to the public. President Luis Abinader was present at the Presidential Palace for the symbolic start of the first program of ordinary issues in the stock market. The issuance was subject to a rigorous process under the Market Superintendence of Securities (SIMV).
César Armenteros Iglesias, chairman of the board of César Iglesias S.A., said the issuance is a historic milestone for the company and Dominican economy. “This was achieved thanks to the result of five years of implementing our strategic renewal plan,” he said.
The traditional bell rang during the Presidential Palace event marking the availability of the placement of 30% of shares for public holding. The company said that stock is for sale as of 9 August 2023 at accredited BHD, Popular and Alpha and Parval brokerage firms.
Cesar Iglesias manufactures a wide variety of consumer goods, including food, alcoholic beverages, home care, personal care goods.
Jose Gior Ariza and Alejandro Santoni of Investa Capital Partners served as advisors to Cesar Iglesias for the placement and highlighted the placement was possible after the passing of Law 163-21.
The editorial of Diario Libre on 10 August 2023 stresses it is a day of celebration for private business in the Dominican Republic.
Read more in Spanish:
Hoy
Diario Libre
Cesar Iglesias
DGII – Law 163-21
Diario Libre
10 August 2023