President Luis Abinader gave the bell that symbolizes the start of the placement of the first public offering issuance program of shares in the Dominican Republic of the company César Iglesias. The issue was structured by BHD Puesto de Bolsa and will be placed by this same company in collaboration with Inversiones Popular – Puesto de Bolsa, Alpha Inversiones and PARVAL. The investment banking firm, INVESTA Capital Partners, served as exclusive financial advisor to César Iglesias.

 

Santo Domingo. The Superintendence of the Securities Market (SIMV) announced the start of the placement of the first common or ordinary share issuance program of the Dominican Republic capital market industry, structured for the company César Iglesias by BHD Puesto de Bolsa. President Luis Abinader rang the bell at the National Palace. This is a traditional stock market symbol when these types of announcements are made.

 

The placement of César Iglesias shares is available from August 9, 2023 through BHD Puesto de Bolsa e Inversiones Popular – Puesto de Bolsa, as placement agents, and Alpha Inversiones and PARVAL, as distribution agents. For the third tranche of the issue, which is the one available to the public, the value of César Iglesias’ shares is RD$128.84. To access this issue, companies and individuals with an interest must have an investment account at a stock exchange.

 

Miguel Feris Chalas, president of the Executive Committee of César Iglesias, affirmed that “I saw the courage to challenge and face challenges firmly repeated countless times when making important decisions in the history of our company. It is the example that moves us as a group and family. This is the DNA of César Iglesias and it is what brings us here, to become the first public company in the country. As of today we are the first Dominican company in which anyone has the opportunity to be a partner and share the future of this project”.

 

Likewise, the Superintendent of the Stock Market, Ernesto Bournigal, highlighted the role played by the Stock Market Promotion Law number 163-21 promoted by President Abinader, to make the placement possible. “We cannot lose traction. We must maintain this rhythm and bet on trust, credibility and stability. The Dominican Republic’s stock market is on the right track, and we still have a long way to go that we must travel together to become a regional financial powerhouse.”

 

In the same order, the executive vice president of the Stock Exchange of the Dominican Republic (BVRD), Elianne Vílchez Abreu, pointed out that “this first placement of publicly offered shares through the Stock Exchange of the Dominican Republic it makes our economy go up another step, one capable of capitalizing the productive fabric in sustainable conditions, and making the democratization of investment possible. As of today, the Dominican financial markets are placed in a sophisticated position”.

 

On the other hand, José Gior Ariza and Alejandro Santoni, main partners of INVESTA Capital Partners, financial advisors to César Iglesias and coordinators of the share issuance project, expressed their gratitude to the authorities and to César Iglesias for having trusted the team that was at charge of the project allowing this first issuance of shares today to be a reality.

 

Likewise, Eric Ramos, executive vice president of BHD Puesto de Bolsa, highlighted the importance of this placement. “With this step we begin a new phase for stock market positions in an industry that is called to be a provider of financing sources and a channel of financial resources in highly competitive conditions for the Dominican business community and diversified investments for citizens . We thank President Abinader for ringing the first bell in the history of the country’s stock market, César Iglesias for giving us his confidence, and the authorities for their tremendous support.”

 

For his part, José Manuel Cuervo, Vice President of the Area of Subsidiaries of the Stock Market of Grupo Popular, assured that “we celebrate this milestone in the Dominican stock market, which will facilitate the diversification of the offer of investment instruments for all kinds of investors, adding dynamism to the market and creating new opportunities for people and companies to maximize their investments and their way of financing”.

 

The distribution agents of this public offering also expressed their assessment, as was the case of Santiago Camarena, executive vice president of Alpha Inversiones. “We are proud to support this milestone as distributor agents of the placement of César Iglesias. We are convinced that the capital market is the partner that catalyzes the success of the new Dominican business generation”.