After the news of Ebital debuting in a simplified regime through Negotiable Obligations (ON), the company Zorzal Inversiones Tecnológica SA will go on the market with the issuance of shares through the same regime for a total of 100 million Indexed Units (UI).
This week the Superintendence of Financial Services of the Central Bank (BCU) authorized the first issuance of shares under a simplified regime. This way, Zorzal Inversiones Tecnológica SA was able to enroll in Stock Market Registry shares outstanding for a total of $10,000 each.
The company’s Issuance Program will be up to 100 million Indexed Units, an equivalent to 15.5 million dollars, and which will be issued in Uruguayan pesos. In this way, it becomes the first series for an amount of 100 million UI to be issued in the country’s currency.
Eastern Capital It is the corporate finance firm that is behind the issuance of shares of the technology company. Its objective is to develop investments in the country with a focus on the social and environmental impact on the community.
So, Zorzal Inversiones Tecnológica SA It is the first company in the Eastern Capital to find its way. According to their website, they are “structuring a collective investment in Uruguayan software companies, through the stock market.”
The case of Ebital
This week the news also came out that the construction company Ebital SA will air next week Negotiable Obligations (ON) for a total amount of about 6.5 million dollars in what will be the debut of the simplified debt issuance regime.
Series 1 ONs, not convertible into shares, will yield 8% annual effective interest on the capital amount, payable quarterly. The repayment period will be 5 years from the date of issue, reported Gastón Bengochea y Cía Stock Brokerwho will be the structuring agent, in a presentation to which he agreed Ambit.
The Montevideo Stock Exchange (BVM)) will, meanwhile, be the registering entity and payment agent for the Ebital issue that will take place on Wednesday the 22nd and Friday the 24th. The allotment system will be the cut-off under the Dutch modality.
The capital will be amortized in annual installments of 25% of the total amount over five years, beginning at the end of the grace period. The minimum investment will be 5,000 dollars and each ON will have a nominal value of one dollar.
“We believe that it will be in high demand and could be a good opportunity to place at a good rate,” Gastón Bengochea and Cía Corredor de Bolsa told Ámbito.
The ONs have as guarantee a trust with a pool of works that includes construction contracts Malvin II Tower II for 4 million dollars, with backing from Peninsula Real Estate Group (who has a public offering trust invested by the AFAP); and the O2 for 12 million dollars with backing from ACSA and Independence Asset Management (Chilean investment fund).
Furthermore, additional credits will be incorporated against Antellinked to telephone infrastructure network supply services and counter quarters where Ebital SA carries out lighting replacement work, for example, Maldonado.
“This will allow us to maintain a debt coverage ratio of 175% (issued debt vs. assigned credits) at all times,” they noted.
Ebital, which has carried out works such as tower 4 of WTChe Carrasco airport and the Sodre theater complexprojects sales of 46 million dollars for this year and about 68 million in 2025.
Source: Ambito