Foreign investments

New special regime to promote foreign investment through the capital market: the importance of the mining sector | Dentons

On October 1, 2021, resolution n ° 906/21 issued by the National Securities Commission (Comisión Nacional de Valores or CNV for its Spanish acronym) was published in the Official Journal, calling for a public consultation on the promulgation of a dual listing regime (the Scheme) intended to promote foreign direct investment, increase exports and develop a local market for competitive capital.

The regime applies to authorized foreign issuers who make public offerings of shares, list or trade securities in foreign capital markets and also wish to operate in the local capital market. It aims to facilitate access to the local capital market for these issuers and to offer them new alternatives to diversify their portfolios and obtain better exposure to the local currency.

To this end, the Regime simplifies the requirements for obtaining the relevant authorization from the CNV as well as the information requirements that foreign issuers listed abroad must comply with when registering with the CNV. For example, the Plan accepts financial statements presented in their original language and requires their translation only if they are written in a language other than Spanish or English.

The Scheme is part of the initiatives taken by the CNV in collaboration with the private sector to promote the development of the local capital market as well as certain activities such as mining, due to its importance in generating income and employment. throughout the country.

With this in mind, the CNV and the Federal Mining Secretariat have signed a framework agreement to provide concrete financing vehicles allowing foreign and local companies to develop sustainable, integrated and inclusive mining projects.

Finally, the Plan modifies Section I of Chapter VIII of Title II of the Regulations (NT 2013 and amendments).

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