Commission approves public offering of shares to César Iglesias, SA

The Risk Classification and Investment Limits Commission (CCRyLI) approved as an investment alternative for pension funds, the public offering of shares of César Iglesias, SA and the Closed Investment Fund for Development Reserves I, both registered in the Registry of Stock Market of the Dominican Republic.

The public offer of shares of César Iglesias, SA is the first authorized by the Superintendence of the Stock Market under Law 249-17, which will allow a greater democratization of the stock market, making it possible for pension funds, as well as any natural person, can access the share capital of this company.

This new investment alternative will contribute to improving the diversification of the Pension Funds’ portfolios, optimizing their risk-return ratio and deepening the local short- and medium-term stock market.

With the next placement of the shares of César Iglesias, one of the pending tasks of the Dominican Republic stock market will be completed, the start of the so-called “listed companies”, being a milestone that will give greater depth to the market, will boost the economy and it will open the doors for more companies to access financing through the stock market.

For its part, the Reservas I Development Closed Investment Fund, which is managed by the Sociedad Administradora de Fondos de Inversión Reservas, SA (AFI RESERVAS), has the investment objective of generating returns, preserving and increasing capital in the medium and long term. term, investing a minimum of sixty percent (60%) of its portfolio in debt securities and capital securities that are not registered in the Securities Market Registry of companies, projects, trusts, infrastructures and entities in general.

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Among the investment alternatives evaluated by AFI RESERVAS for its Investment Fund, is the Pro-Pedernales Trust in order to support the development of the tourist pole in the southwestern region of the country and thus allow pension funds to count on other financing alternatives to which they cannot directly access; In this way, the private sector is linked to the construction of public infrastructures.

CCRyLIThe CCRyLI, whose main purpose is to determine the current risk degree of each financial instrument to be considered as an investment alternative for pension funds, is made up of the Superintendent of Pensions, Francisco Torres Díaz, who chairs it, and Ervin Novas Bello, representative of the Governor of the Central Bank, the Superintendent of the Stock Market, Ernesto Bournigal Read, Julio Enrique Caminero Sánchez representative of the Superintendence of Banks, Francisco Campos Álvarez representative of the Superintendence of Insurance and José Luis León technical representative of the affiliates.

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