Capital Markets
From The Report: Peru 2018
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Peru has many of the economic ingredients needed for rapid expansion of the capital market, yet the authorities still need to channel efforts into making the Lima Stock Exchange (Bolsa de Valores de Lima, BVL) attractive to both businesses and investors. Since the turn of the new millennium, the number of listed companies has grown from 210 in 2001 to 277 as of June 2018. Of these, manufacturing (16%), finance (14%), public service (9%) and mining (8%) are among the most represented sectors. A handful of firms tend to dominate each of these categories. For example, Southern Copper Corporation, a mining company, comprises almost 25% of the entire exchange’s value at $40.6bn; Credicorp Capital, a local financial services firm, has a market capitalisation of just under $21bn, or 12.7% of the BVL total; and Banco de Crédito, a Peruvian bank, has a market cap of $17.2bn – equal to 10.5% of the total. This chapter features interviews with Marco Antonio Zaldívar, Chairman, Lima Stock Exchange; and Jorge Ramos, General Manager, BBVA Continental Bolsa; and President, Association of Peruvian Brokerage Houses.

Articles from this Chapter

Overview

To the next level: The mid-term future of the bourse looks bright on the back of healthy metals prices and regional integration plans
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Despite being one of the smaller exchanges in South America, the Lima Stock Exchange (Bolsa de Valores de Lima, BVL) has a long history stretching back to 1860. The Tribunal del Consulado, the highest body regulating commerce in the country’s early history, established the Bolsa de Comercio de Lima in 1861. However, the exchange did not trade any type of stock for nearly 30 years until it re-emerged in 1898 as the Bolsa Comercial de Lima. This began the trading of stocks, bonds and notes, with…

Analysis

Financing sustainability: Bond issuances for green projects gain momentum
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The development of sustainable infrastructure works, projects to combat climate change or simply upgrading facilities to be more energy efficient are trends that are gaining momentum around the world, with Peru being no exception. Thus, a specialised financing environment is being created to support such projects through the help of multilateral organisations and new legal templates. CAF Issue The Development Bank of Latin America (Corporación Andina de Fomento, CAF), an institution founded in…

Interview

Automate and adapt: Marco Antonio Zaldívar, Chairman, Lima Stock Exchange, on growing retail investment and improving corporate governance
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Interview :Marco Antonio Zaldívar How can the participation of retail investors in the market be enhanced, and what are the main challenges to increasing investment? Marco Antonio Zaldívar: The retail market practically disappeared years ago. The Lima Stock Exchange has been overly regulated, which has traditionally limited its capacity to innovate, thus hindering an increase in its retail investor base. The current challenge is to attract small retail investors, most of whom tend to invest…