SMV Mercado de Valores

Alternative Financing and Investment Market

This section discusses the alternative financing and investment market, focusing on the key participants such as issuers and investors, the process of issuing securities, and the role of smaller companies in accessing funding through alternative markets.

Market Participants

• Issuers and investors are key participants in the alternative financing market.

• Issuers can offer securities like stocks, short-term instruments, or bonds to investors for funding.

• Investors acquire shares in a company when issuers issue stocks, entitling them to future profits through dividends.

Alternative Market Access

• Smaller companies can access funding through the Alternative Securities Market (MARF), providing opportunities for entities with assets or revenues below a certain threshold.

• MARF offers easier access to financing for companies with assets or revenues less than 200 million soles.

Regulatory Requirements

• The Superintendence of the Stock Market regulates public offerings of securities, requiring issuers to disclose periodic information related to their company and offerings.

• Issuers must register with the Public Registry of the Stock Market administered by the Superintendence.

Information Disclosure and Investor Protection

This section delves into the importance of information disclosure by issuers, covering aspects like financial data, risk factors, governance adherence, and ongoing reporting requirements for investor decision-making.

Information Disclosure

• Issuers must provide comprehensive information including economic, financial, and legal details that could impact investor decisions.

• Key disclosures include informative prospectuses detailing issuance-related information and financial performance updates.

Ongoing Reporting

• Continuous reporting obligations involve disclosing financial updates, significant events like mergers or changes in business scope, governance adherence levels, and commitment to good corporate governance practices.

• Emphasizes adherence to good corporate governance standards as part of ongoing reporting requirements.

Market Infrastructure and Investment Options

This segment explores market infrastructure elements facilitating investment transactions such as primary/secondary markets via Lima Stock Exchange along with investment avenues like mutual funds managed by authorized institutions.

Investment Avenues

• Investors can engage in diversified investments through mutual funds managed by authorized institutions offering professional portfolio management services.

• Authorized institutions manage resources within mutual funds under regulatory oversight from the Superintendence.

Role of Regulator

• The Superintendence plays a crucial role in protecting investors' interests by ensuring fair pricing mechanisms, market transparency while promoting financial literacy among stakeholders.