[2019-11-28] Mozambique Stock Exchange launches Third Market

Source: Macauhub

The Mozambique Stock Exchange (BVM) has launched the Third Market, aimed at preparing companies of any size so that their shares can be listed over time, the institution’s president Salim Valá said on Wednesday in Maputo.

The BVM has only managed to list 10 companies in 20 years of operation, six of which in the last three years and the tenth, Arko Seguros, this week, reported Mozambican newspaper O País.

One of the reasons for companies’ difficulties is the requirements for shares to be publicly traded, with the Third Market acting as an incubator which, within two years, will allow interested companies to meet these requirements.

The Mozambique Stock Exchange has also launched the BVM Awards, which will distinguish the best listed company, the best custody bank, the best scientific article on capital markets and the best written press article.

The BVM currently lists shares representing the capital of Cervejas de Moçambique, Companhia Moçambicana de Hidrocarbonetos, CETA – Engenharia e Construção, Empresa Moçambicana de Seguros, Matadouro da Manhiça, Zero Investimentos, Touch Publicidade, Arco Investimentos, Hidroeléctrica de Cahora Bassa and Arko Seguros.