Caracas Stock Exchange increases its capital
At its meeting on March 8, the Board of Directors of the Caracas Stock Exchange agreed to submit to the consideration of the Extraordinary Shareholders' Meeting in April, a capital increase through the issuance of up to 6,000,000 common, nominative, non-registered shares. convertible to bearer
The Board of Directors of the Caracas Stock Exchange, at its meeting on March 8, 2024, agreed to submit to the consideration of the Extraordinary Shareholders’ Meeting to be held in April, a capital increase through the issuance of up to 6,000,000 shares common, nominative, not convertible to bearer, to be subscribed by the company’s shareholders, contemplating the possibility of negotiating the subscription rights on the listing board.
These funds will be used to cover the investments that are being made for the renovation of facilities, updating of equipment, website and software for the incorporation of applications used on portable devices for consultation, pricing and routing of orders present in the System of SIBE Smart negotiation, bringing the market closer to a more technological generation today.
The Caracas Stock Exchange began a plan to renovate its facilities and update technology within its proposed strategy of promoting the growth of the stock market and making it part of the nation’s economic plan, which is known as T1 economic transformation.
For the Caracas Stock Exchange, the stock market is of strategic interest to the Venezuelan State for economic growth and a complement to the financing mechanisms of private and public projects and companies.
A very important aspect that is raised is to allow the negotiation of subscription rights, which will boost the placement and encourage other issuers to do the same, something that has not happened for decades and, without a doubt, brings positive excitement to the market. This complements the market segment of other goods where stock market financing certificates are listed.
Likewise, the board of directors approved to submit to the consideration of shareholders to expand the share plan for employees. This is a significant step and an example so that other companies can also socialize capital, as a savings mechanism for their workers.
Another relevant example is CANTV, this company has a share program for employees, where its employees save on their own work, and encourages effort and work in the company’s growth plans. It certainly creates a sense of belonging and pride.
With information and images of the Caracas Stock Exchange
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