- This initiative came as a result of a partnership between the Colombian and the Santiago Stock Exchanges, the purpose of which is to consolidate a more diverse market through both exchanges.
- The shares of a total of six issuers now complement the offerings of the Santiago Stock Exchange, with options in sectors such as processed foods and restaurants, construction materials, financial services and infrastructure.
- It is important to note that registering with the Santiago Stock Exchange does not entail any primary issue of share capital whatsoever on the part of all six companies, since no new issue of shares is involved.
The shares of Bancolombia, Davivienda, Grupo Argos, Grupo SURA, Grupo Nutresa and Cementos Argos can now be traded on the Santiago Stock Exchange. This was made possible thanks to an agreement between the Colombian and the Santiago Stock Exchanges, which encourages the double registration of the main issuers on both markets. This has allowed the shares of these Colombian Multi-Latinas to be traded now with all of the facilities offered by the local trading system and in Chilean pesos.
This project has enabled a group of Colombian companies to trade their shares in the form of local securities on the Santiago Stock Exchange, thereby representing an opportunity for local investors to diversify their portfolios, with this becoming a useful long-term alternative. At the same time, it represents an opportunity for these issuers to participate in deeper more liquid market , such as the Chilean market.
It is important to note that registering with the Santiago Stock Exchange does not entail any primary issue of capital whatsoever on the part of all six companies, since no new issue of shares is involved. It is merely a trading option on the Chilean market, which has been enabled through a mechanism in force since October 2020 introduced by the Foreign Securities Market of Chile .
For Juan Pablo Córdoba, President of the Colombian Stock Exchange, this is an important initiative since it has allowed for an institutional alliance to be formed between the two exchanges: "The listing of these six Colombian issuers on the Santiago Stock Exchange represents the first concrete result of this agreement between the two markets; we are promoting a greater degree of dynamism in our markets by offering more alternatives in equities so that Chilean investors can build an increasingly diversified portfolio.
In this regard, Juan Andrés Camus, President of the Santiago Stock Exchange, stated that the arrival of these Colombian companies onto the Chilean market allows for greater risk diversification by investing in companies with different exposures in diverse geographies, sectors and currencies. "This Cross Listing between the Santiago and Colombian Stock Exchanges is a significant step towards deepening the foreign stock market and offering new alternatives to investors. We are already seeing the first results of this initiative, which allows dual stock listings in both markets, in line with our purpose of working for a more competitive stock market, with greater liquidity and depth, thus providing greater opportunities for more business options and more global exposure for issuers and investors.”.
Stocks belonging to all six Colombian issuers are captivating the Chilean investment market with a concept that has been summarized as "The best of investing in action", which reflects the strong, robust financial positions of these companies whose presence extends to Latin America. the United States and Asia.
As part of the efforts to build up a market in Chile and amplify share liquidity, the stocks of all six Colombian companies will have a market-making program, to be carried out by LarrainVial, one of the main local stock brokerage firms. "The arrival of these shares on the Chilean market is an attractive opportunity for investing directly and easily in world-class Colombian companies in sectors as diverse as food and restaurants, construction materials, financial services and regional infrastructure," said Fernando Larraín, president of LarrainVial.