Arguing that there is a temporary need for liquidity in colons, on October 26 the Central Bank of Costa Rica decided to participate in the secondary market by buying two different series from the Ministry of Finance, with a maturity of 9 and 10 years.
On April 13, 2020, the Board of Directors of the Central Bank of Costa Rica (BCCR) authorized its Administration to participate in the secondary securities market of the Ministry of Finance and defined the conditions under which these transactions would be executed, with the objective of mitigating situations of systemic tension caused by temporary liquidity needs in colones, informed the monetary authority.
The continuous acquisition of real estate and the diversification in the type of infrastructure invested, are the reasons for the growth of real estate funds, which monopolize nearly 40% of the industry's assets.
According to data from the General Superintendence of Securities (Sugeval), the proportion of real estate funds concentrated in the market has been growing for years, since in November 2013 they represented 29% of the industry and in the same of 2018 it rose to 41%.
The Ministry of Finance in Costa Rica has announced that between today and August 3 it will try to raise, through means of a direct issue in the local stock market, about $879 million.
Authorities reported that two issues of securities will be offered for sale on the Siopel platform of the National Stock Exchange.The first, of $284 million, will have a gross rate of 9% with maturity in 2020, and the second of $595 million, with a gross rate of 10.79% with maturity in 2028.
Using a web platform with key information from all of the markets in the region and the Dominican Republic, Central American stock exchanges propose reviving the plan to create a truly integrated regional market.
Once again authorities at stock exchanges in Central American countries and the Dominican Republic have put back on the table the plan to integrate the stock markets in each each country into a single regional one.
Establishment Labs Holdings, dedicated to the manufacture of breast implants, issued $66 million in shares on its first day of trading on the Nasdaq stock exchange, in the US.
Representatives of the company reported that through the procedure called "pricing", last Wednesday the company sold 3,175,277 shares to investorsat a unit price of $18 dollars.
Arguing that the financial conditions and the term of the operation were not adequate, the Ministry of Finance has decided not to issue $1,5 billion in debt bonds in the local market.
The announcement was made by the Ministry of Finance through a Relevant Fact sent to the General Superintendence of the Securities Market.
The Costa Rican Stock Exchange is preparing a bond plan for companies that seek to finance renewable energy, agriculture, and waste management projects, among others.
The aim of the authorities at the National Securities Exchange (BNV), is to have the first issue of bonds of this type ready in the last quarter of 2018.The plan is to provide financing alternatives through the stock market for projects"... new or existing ones that qualify as green projects, that is to say, that contribute to mitigating the effects of climate change or adapting to them."
Between January and November 2017, the volume traded on the stock exchange was $43,153 million, 4% less than the amount traded in the same period in 2016.
According to figures from the National Securities Exchange (BNV), as of November of this year 78,836 operations were recorded for a total of $43.153 billion, 4% lower than the $44.911 billion transacted in the same period in 2016.
The concessionaire of route 27 plans to place up to $374 million in the Costa Rican stock market to repay outstanding balances on a bank loan.
A rating report by Fitch Ratings states that Globalvía, through the issuer Autopistas del Sol, plans to"... issue local notes for a total amount of up to USD374 million.The 2017-A-CR Series will be denominated in US dollars for up to USD104 million and for a term of 10 years, while the 2017-A-CR Series will be denominated in US dollars for up to USD270 million and for a term of 14 years. Both series will maintain a fixed interest rate."
A 15% tax, charged by the Treasury on income from interest generated on foreign investments in securities in the local market, has been described as incorrect.
A ruling by the Attorney General of the Republic indicates the charge of 15% by the Treasury on interest earned by foreigners on their investments in securities in the local stock market is incorrect and it should be 8%, as is charged to local investors.
The market regulator is preparing rules for a new type of short-term investment fund, which will be available before July.
The Superintendency of Securities (Sugeval) in Costa Rica announced that it will add to its portfolio an investment fund focused on very short term securities which are low risk and high liquidity, reported El financierocr.com. This new instrument will be approved in the first half of 2016.
The Superintendency of Securities is preparing for 2016 two new regulations and other reforms already in place to attract more investors.
The regulations relate to Mediation and Complementary and Venture Capital Activities, and reforms to the Regulations on Management Companies and Investment Funds, Regulation of Exchanges, the Custody Rules and Regulations on Corporate Governance.
Analysis of the current state of the Panamanian capital market, including the confidence threatened by various financial setbacks, and the opportunities to make the much needed structural changes.
Martesfinanciero.com reviews three episodes which have shocked the Panamanian financial market in recent weeks: "These events have shaken the financial system and put market players on alert.
The company Vidriera Centroamericana SA will be taking out a bank loan to pay its corporate bonds listed on the stock market and is disenrolling as an issuer of public shares.
The reason behind the decision to leave the ailing Costa Rican stock market is that corporate debt bonds that the company issued in 2008 were no longer"... trading at an attractive market rate." Given this, the company chose to seek bank financing rather than stocks to settle its debts.
Public consultation is being undertaken for the reform the regulation of Market Makers, with which it is intended to attract more stock brokers to the program to provide more liquidity to the market and stabilize prices of securities.
This reform also seeks to establish a reference price, a guarantee of "... minimum level of liquidity for emissions with little market presence "and amend the rules that are in effect, with the aim of improving the conditions for brokerage firms. It is expected that this project will be executed before the end of the year.