Dominican stock-market posts RD$6.3 billion in trades this year, Hoy reports
SANTO DOMINGO.- Dominican Republic’s stock-market has posted RD$6.3 billion in trades so far this year, said its general manager Darys Estrella Mordán, who said 29 percent of that amount was in the secondary market, reports newspaper Hoy.
She said 13 issues have been made in the primary market this year, whose total has yet to be placed.
Estrella said in 2007 trades in the stock market grew more than 800 percent than the previous year, and the same is expected this year.
The stock market director said four offers have been approved this year: INCA, La Fabril, Franquicia Dominicana and the Cerveceria Nacional Dominicana, whose 4.6 billion offer has been entirely traded.
She said for the stock market to be developed there must be a secondary market which works, because no investor is going to have the confidence to enter into it if they know they aren’t going to be able to trade that issue.
“It’s important that there is liquidity, transparency, and that people know where the price is, what is it that the stock-market has been promoting,” Estrella said interviewed by newspaper Hoy. She said though the stock market’s primary market currently has 71 percent and the secondary market 29 percent, that would soon change.
Source: DominicanToday.com