Stock Exchange is intended to allow mining shares auctioned not listed
Entity is working on a new shares operations manual and is waiting the approval by the SVS. Mining stock exchange development project would go for separate path
This is a minor change, but whose effects can be interesting for those seeking a closer relationship between the stock market and the mining industry in the country.
What happens is that the Santiago Stock Exchange is working on a new Operations Manual on shares, in order to allow the auction of mining stocks. Currently, it is stated that in the stock exchange may be listed only those shares of corporations and limited by shares that are in the securities register of the SVS. However, with this proposal could be auctioned securities of companies that are not necessarily registered in the register, being applicable the new rules for media mining companies both legal and contractual rate. This change has been working with time, as a first document was sent by the stock market regulator entity in April 2012, and again last week submitted a new version with some specifications made by the SVS.
The concern arose from the stock exchange itself, particularly for a consultation on the feasibility of auctioning 400 shares of mining contractual Cal Norte Mining Company.
Besides the abovementioned, the new operations manual also allows companies the auction of securities (SpA) per share. This time to the proliferation of such companies after the Capital Market Act II Law, which allowed its creation. These entities are governed under the Companies Act Law, but with the difference that can be formed with only one shareholder and also requires the existence of joints or directories, among others.
What is it doing the stock market mining ?
While this initiative would go in the interests of bringing the mining sector to the domestic capital market, this change goes on a different path to the project of developing a mining stock exchange in Chile.
On the stage of this project is from the company explained that they are currently working with the Toronto Stock Exchange in a process that considers the analysis of all the changes required to market and regulatory level, in order to measure the efforts and necessary resources for the implementation of a capital market for mining exploration.
“It is important to note that among the various Canadian actors who have evaluated this possibility in the country, there is consensus that Chile has the conditions and the potential for implementing a model equivalent to the Canadian market, so that now the Santiago Stock Exchange is developing the model proposal to be presented in the coming months, “said from the entity. Last year, of the more than U.S. $ 21 billion invested in mineral exploration, Chile accounted for U.S. $ 1,035 million, of which less than 20% made the junior minings.
Source: Pulso
