The general meeting of shareholders of the BVL Group (holding company of the Lima Stock Exchange) gave the go-ahead on Tuesday for the regional integration process with the capital markets of Colombia and Chile.
This integration had already been approved by the shareholders’ meeting of the Santiago Stock Exchange (BCS) and the shareholders’ meeting of the Colombian Stock Exchange (BVC), held on January 26 and 31, respectively.
In this way, the green light is given to a project that the administrations of the three entities have been developing for more than three years and that includes the integration of the ownership of the three exchanges and their subsidiaries -in addition to the trading, clearing and liquidation of each of them – through the formation of a new regional holding company that will have its headquarters in Chile.
The shares of the Santiago Stock Exchange and the Colombian Stock Exchange will have a 40% participation in the exchange, respectively, while the titles of the BVL Group (Lima Stock Exchange) will represent 20% of the remaining capital.
“The integration of these three stock markets is a milestone in the history of the Latin American Stock Market, a necessary step to achieve greater competitiveness against global players and position ourselves as an attractive pole for investors worldwide.”, said the president of the Santiago Stock Exchange, Juan Andrés Camus.
“The shareholders find that it is a transaction in which they want to continue being represented, because it generates value for both the participants and the investors, integrating markets that complement each other and need to continue growing.”, pointed out the president of the Board of Directors of the Colombian Stock Exchange, Mauricio Rosillo.
“Undoubtedly, this decision, taken unanimously, marks a milestone for the markets, granting them greater scope and moving towards greater efficiency. Likewise, this integration makes us organizations and places with a greater capacity to offer better financing conditions for companies and savings for people.”, said the president of the BVL Group, Claudia Cooper.
Along with the approval of the shareholders, the authorizations of the regulatory agents of each country are required, and the formalization of the operation may be extended until mid-2022.
