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Institutional Securities Exchange (Biva) will receive a new capital injection of 350 million pesos from its partner LIV Capital, a private equity fund.
These resources will be used to financially reinforce the new stock exchange, which began operations on July 23 in Mexico, announced Central de Corretajes (Cencor), which controls Biva.
Although the transaction is expected to be authorized by the Ministry of Finance and Public Credit, LIV said the investment is based on confidence in the growth prospects of the new stock market.
"This investment reaffirms the trust of LIV Capital in Cencor and Biva and the increase in our participation meets the goal of associating only with first-rate and highly profitable projects", added private investment fund dedicated to investing in high growth companies. in Mexico and Latin America.
Once the capital injection is approved, LIV will have made an investment of 1,000 million pesos in the center of Corretajes.
In 2016, the private equity fund agreed on a first investment of 450 million pesos to launch the Biva project. in February of this year, it allocated another $ 200 million to increase its participation to a total of 650 million pesos.
Only debt, not shares
Three months after the Institutional Stock Exchange triggered the change, it made its first listings in the debt and capital market, via the placement of two development capital certificates and one debt. short and long-term business.
However, the wait remains to see the first publicly traded company.
Biva had the idea to grow the Mexican stock market by attracting fifty companies in three years.
The chief executive of the stock exchange, María Ariza, said Monday that other debt issues would be issued by the end of the year. She hopes that in 2019 conditions will be even more favorable for the announcement of new listings.
Santiago Urquiza, president of Cencor, said that during the first quarter of Biva's activities, "the balance sheet is positive" and that it is continuing its efforts to be more inclusive and to offer competitive services and products on the stock market.
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