Nicaragua: Another Entity Leaves the Stock Market

Arguing that the country's situation is complex and that the need for greater liquidity to meet its immediate responsibilities has had consequences on its funding sources, Factoring S.A. announced its exit from the local stock market.

Monday, January 27, 2020

Managers of the financial institution reported that the company began operations in 1998 and in 2011 was authorized by the Superintendence of Banks and Other Financial Institutions (Siboif), to make issues in the stock market.

See "Nicaragua: Financial Entity in Default"

The complex situation of the country and the need for greater liquidity to meet immediate needs as a result of our funding sources, including from the capital market, have reduced their exposure to investment securities of all issuers, including us, explains the official statement.

Óscar Granja, general manager of Factoring S.A., told Laprensa.com.ni that "... despite our withdrawal from the stock market, we will continue to meet the working capital needs of small and medium-sized companies. We are a financial institution that provides credit to small and medium sized companies, that is our market segment and we will continue to finance with the expectation that when the scenario is optimal for funding, we will be happy to return (to the stock market)."

This is the third participant to withdraw from the stock market since the political and economic crisis began in the country, as Credifactor and Financia Capital left months ago.

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