The years passed and it did not happen. We saw that in many other countries, some with a level of development below ours, people had the possibility of investing in Actions of local companies. They could, in this way, complement their traditional bank deposits and diversify their financial assets. Here that was not possible. Unless we decided to put our money abroad, we were confined to choosing between alternatives represented by debt securities. Complaints about this limitation were frequent, but in economic matters things do not necessarily happen when we would like them to happen. They occur when they turn out to be feasible for all parties involved.
From time to time, episodes of high inflation and currency devaluation reduced the real value of liabilities, making borrowing a better option for companies than issuing Actions. Added to this situation were countless bureaucratic procedures, regulatory obstacles and fiscal considerations, accompanied by the misunderstanding and disinterest of government entities. The dominance of companies whose founders were reluctant to relinquish some of the absolute control they were accustomed to exercising over their businesses didn’t help either. And to all of the above was added our little inclination to resort to collective solutions to achieve our objectives, preferring to depend on our own efforts or state support.
The announcement that César Iglesias will finally make a public offer of Actions it represents, therefore, the culmination of a long period of unfulfilled desires. Previously, the sale of Actions Pasteurizadora Rica, through a trust. Now, after incentives have been approved and several legal and regulatory obstacles have been corrected, we will have the first direct offer to investors. and they will be Actions of a company recognized for its solvency and long history.
