Last Updated: 02 December 2019
The Mozambique Stock Exchange publicly launched the Third Market in Maputo on 27 November. And announced the BVM Awards initiative. The Third Market (preparation market) is a new market segment of BVM, which is an alternative to the Official Listed Market and the Second Market, with the objective of preparing companies to enter those stock markets.
This market segment is intended for companies for which there is no requirement for dispersion at the time of application for listing, and companies are required to promote shareholder dispersion of their share capital within a time horizon not exceeding two (2) years.
During the event, BVM's PCA, Salim Valá, made it known that this is a transformative and far-reaching initiative in the stock market, which will reposition BVM in the place it deserves as a decent barometer of the economy.
“We do not want to continue to be known as an incipient and marginal stock market”, incidentally “there is no doubt that the year 2019 will be left to history as one that marks, markedly, the rise of the Stock Market as a financial square that does not want to be. be forever called fledgling, ”said Vala.
And for that, "we are discreetly but courageously, boldly and perseveringly fighting," because "we know that implanting a stock market culture will require an integrated, operated by multiple institutions and without time limit," he emphasized.
In turn, CTA's Chairman of the Board, Agostinho Vuma, “expressed the support of the private sector to the Third Market, stressing that“ it has the ability to facilitate access to finance for companies ”.
“As partners of the Stock Exchange, we reiterate our commitment that this initiative contributes to the success of Mozambican companies by facilitating access to finance for SMEs and promoting the adhesion of companies to the market and capitals,” said Vuma.
To operationalize the Third Market, BVM has entered into an Institutional Collaboration Protocol with the Confederation of Economic Associations of Mozambique (CTA), the Order of Accountants and Auditors of Mozambique (OCAM), the Institute of Accounting and Auditing of Mozambique (ISCAM) and the Institute for the Promotion of Small and Medium Enterprises (IPEME).
At the same ceremony, BVM announced the “BVM Awards” initiative aimed at 5 categories (1- best issuer of securities; 2- best broker of listed securities; 3- best custodian of listed securities; 4 - best article / scientific work on capital markets, and 5- best journalistic article on capital markets).
This action was designed to recognize the timely, highly accurate and transformative action of some key capital market players, rewarding the most liquid securities, the most traded securities and the custodian bank with the largest number. registered holders with the Central Securities Depository.
At the same event, BVM publicly announced the admission to listing of the 10th Company on the Stock Exchange, Arko Companhia de Seguros SA in the Official Listed Market, which took place on 25 November.Photo Events