Bolsa de Valores de Panama (BVP), Panama’s stock exchange, announced on Wednesday (June 30) that it has changed its name to Bolsa Latinoamericana de Valores (Latinex).
Olga Cantillo, Latinex CEO said that the “relaunching” of the bourse is another step in the process of becoming a hub for the region’s capital markets.
“We are looking to offer the services that will make us a point of reference for issuers in the region who want to reach regional and international investors” Cantillo elaborated during an online presentation. Cantillo has over 20 years experience in the industry. She has worked in brokerage houses and banks with responsibilities in Panama as well as other countries in the region.
The BVP was created in 1989 and began operations on June 26, 1990 as a stock exchange. It ended the first year with traded volumes of USD 3.3 million.
The BVP created the CSD Latin Clear (Central Latinoamericana de Valores) in 1997 to provide clearing and liquidation for stock exchange operations through its electronic system. The holding company (Latinex Holdings), which owns 100% of the stock exchange, as well as the CSD, is a listed company for profit.
In 2009, both BVP and Latin Clear’s shareholders approved the corporate reorganization and creation of Latinex Holdings, which would own both companies.
In 2011, the securities regulator Superintendencia del Mercado de Valores (SMV) authorized the registration of the new shares of Latinex Holdings’ common stock and, therefore, these instruments were listed on the stock exchange for the first time and begun trading publicly.
The exchange is a member of the Federación Iberoamericana de Bolsa (FIAB), an association which includes Spain’s Madrid Stock Exchange, Portugal’s Euronext Lisbon exchange and Brazil’s B3, among others.
The BVP launched in 2021 its ESG reporting guidelines for issuers: “Guide for Reporting and Voluntary Disclosure of Environmental, Social and Corporate Governance Factors (ASG).”
The BVPSI is BVP’s benchmark index which tracks the performance of stocks listed on the exchange.
The International Monetary Fund (IMF) described Panama’s economic “outlook” as “optimistic” and forecasts a 12% growth for 2021, after a 17.9% drop last year.