PHOTO: Alto Nivel
MEXICO CITY — Mexico’s new, second stock exchange called BIVA aims to be operating by the start of 2018, as it bids to capture part of the existing market in Latin America’s No. 2 economy and entice more companies to issue stock, the new exchange’s president said this week.
The Institutional Stock Exchange, known by its Spanish acronym BIVA, formally received its operating license from the government at an event in Mexico City on Tuesday Aug. 29. It will compete with the Mexican Stock Exchange, or BMV (BOLSAA.MX).
BIVA president Santiago Urquiza told Reuters that he saw a lot of potential for new public offerings from companies with annual sales of between 500 million pesos and 1 billion pesos ($28 million to $56 million USD).
“There is a very big seedbed of highly prepared and institutionalized companies … which are very close to the requirements to be listed,” said Urquiza, who is also president of financial infrastructure provider CENCOR.
BIVA will be backed by technology provided by Nasdaq, the second-biggest U.S. exchange, that is used by more than 70 markets around the world, he said.
Urquiza said he expected the number of publicly traded companies in Mexico could increase over the next three years by about 30 percent to around 200 while daily volume in Mexican stocks could grow 50 percent to around 20 billion pesos.
Source: reuters.com
Comments
more recommended stories
Celestún, love at first sightWhoever rejects the hypothesis of love.
Scientists say the Maya Kept Jaguar Zoos for CenturiesA chemical analysis of excavated bones.
Mexico forced to ask for help from the UN Refugee Office before imminent Honduran caravanMexico says it will ask the.
Top news from Cancun Travel MartCancun Travel Mart, one of Mexico’s largest tourism.
Marijuana stocks to watch: Canopy Growth is the cannabis business’s $4 billion gorillaThe following article is part of.
Riviera Maya among the top 6 honeymoon destinations around the worldCouples narrowing down their honeymoon destination.
How Our Search for an Overseas Retirement Spot Surprised Even UsWhen I retired about two years.
AMLO will provide working visas to Central Americans immigrantsAndrés Manuel López Obrador, said his.
Trump Threatens To Order Military To ‘Close Our Southern Border’President Donald Trump on Thursday October.
October 17 will be remembered in Canada as the day when Cannabis was legalizedCanada became the first industrialized nation.
Leave a Comment