The Bank of Venezuela headquarters in Caracas. File photo.
The measure was taken within the framework of recent actions announced by President Nicolás Maduro to boost and revitalize the economy.
This Wednesday, May 25, the Bank of Venezuela announced the start of its public offer of 5% to 10% of its capital on the Stock Exchange for individuals or organizations, national or international economic actors, who are interested in the development of the country.
The information was shared by the financial institution on its Twitter account, with a statement highlighting that the measure seeks to “boost and revitalize the economy,” becoming the first public company to make the announcement in the framework of this initiative.
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En el marco de las acciones anunciadas por el Pdte. @NicolasMaduro
para impulsar y dinamizar la economĂa, el Banco de Venezuela (BDV) informa que dará inicio a
la Oferta PĂşblica de 5% hasta 10% progresivamente de su Capital Social, dando el primer paso
entre las empresas pĂşblicas pic.twitter.com/Swtb2xo3pW— Banco de Venezuela (@BcodeVenezuela) May 25, 2022
In the statement, the Bank of Venezuela expressed that the institution has been characterized by “occupying the first place for Credit Portfolios” and has a portfolio of more than 15 million clients, registering an increase in the last six months of 169%.
“BDV has doubled its income from non-financial fees in the last six months and is the leader in profitability and accumulated profit of the commercial financial system,” the statement adds.
5% and 10% of the shares of several companies began to be offered on the National Stock Exchange last May 16.
RELATED CONTENT: Venezuela to Offer Shares of Public Companies on Stock Exchange
Earlier, the president of the Bicentennial Public Stock Exchange, Rodolfo Medina, stressed that, since the beginning of the offers, the shares of the state company CANTV increased by 342.20%.
#EnVideođź“ą| Pdte. de la Bolsa PĂşblica de Valores Bicentenaria, Rodolfo Medina resaltĂł que en tan solo trece dĂas el precio de las acciones de la compañĂa estatal CANTV aumentĂł un 342.20% #EstaEsLaNotaDeAhora pic.twitter.com/BRquxv0TOI
— VTV CANAL 8 (@VTVcanal8) May 25, 2022
Recently, President Nicolás Maduro reported that with this measure, Venezuelans will be able to become investors in companies such as CANTV, Movilnet, those linked to petrochemicals, mixed oil and gas companies, and those from Guayana.
“We are going to expand the share package so that investors can go and get involved. We need capital for the development of all public companies, we need technology, new markets and we are going to move forward,” he indicated two weeks ago while explaining that the US and European blockade has heavily affected the availability of much needed capital for keeping efficient operations in many public entities.
Featured image: The Bank of Venezuela headquarters in Caracas. File photo.
(Ăšltimas Noticias) by Ariadna Eljuri, with Orinoco Tribune content
Translation: Orinoco Tribune
OT/JRE/DD/EF
