Earlier this week, TSX Venture Exchange (TSXV) announced that it has signed an agreement with Chile’s largest stock exchange, the Santiago Stock Exchange (BCS), that will lead to the creation of a new venture exchange division. The BCS’s new junior market – which will be called Santiago Stock Exchange, Venture (BCSV) – will provide a platform for small- and medium-sized enterprises (SMEs) to enhance their access to growth capital from global investors.
The agreement will leverage the experience of TSXV as the world’s leading public venture marketplace specializing in facilitating capital formation for early-stage growth companies. It will also provide the opportunity for TSXV-listed companies to dual-list on the new market.
BCSV will initially focus on capital formation for SMEs in the mining sector. This will strengthen and create a strong connection between the mining industry and the Chilean capital market. At a later stage, the initiative may expand to other industry sectors.
The Santiago Stock Exchange is taking a huge step forward in terms of innovation and leadership. This agreement will provide us with TSXV’s expertise in implementing and regulating this type of market. We hope that the venture market in Chile generates the same recognition as TSXV.
– José Antonio Martínez, General Manager, Santiago Stock Exchange
TSX Venture Exchange is a leading global platform for financing and trading SMEs. The agreement will help foster the growth of the junior market in Chile and will allow TSXV-listed companies to dual-list in Santiago and access capital from Latin American markets.
– Tom Kloet, Chief Executive Officer, TMX Group
The Santiago Stock Exchange is seeking regulatory approval for the BCSV with a view to commencing operations in the first half of 2015.