Ecogas rang the bell and began trading on the Buenos Aires Stock Exchange

Ecogas rang the bell and began trading on the Buenos Aires Stock Exchange

Almost seven years after the last bell ringing, Ecogas through Distribuidora de Gas del Centro today complied with the tradition of the markets and carried out the ritual of any firm that opens its capital to the stock market for the first time.

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From today, Gas Distributor of the Center, with DGCE tickerbegan trading on BYMA with ordinary and book-entry shares Class B with the right to one (1) vote and nominal value $1 (one peso) per share.

Since 30 years ago, Central Gas Distributor carries out the public natural gas distribution service in the provinces of Córdoba, Catamarca and La Rioja. The company had significant growth, currently reaching 799,204 customers in 342 locations, through a distribution system of 21,423 km throughout Argentina.

Through the Capital Market, “the company will be able to access capital, have a transparent and objective valuation, enhance its visibility, access analysts and institutional investors, among other benefits,” it was officially reported.

“It is great news to announce that a new stock issuer is joining the Capital Market. Due to its activity, Distribuidora de Gas del Centro plays a fundamental role in the Argentine economy with a federal approach, since it generates employment in provinces in the interior of the country. Being part of the Capital Market will allow the station to access financing to turn its projects into reality. From BYMA, this novelty represents another step towards our objective of transforming investment into work and development for the country,” he explained. Gonzalo Pascual MerloCEO of BYMA.

“We are convinced that This milestone for the Society will consolidate its significance and, above all, the path it has traveled.creating value as a result of the continuous examination of its function and also – of course – by the transparency, respect and prestige that comes with the dynamics that the market demands from the different interest groups,” he expressed. Natalia Rivero, CFO of Distribuidora de Gas del Centro.

Bruchou & Funes de Rioja advised on the operation, being the organizers and placement agents in the issue: Banco de Valores SA (“VALO”), Puente Hnos. SA (“Puente”) and Balanz Capital Valores SAU (“Balanz”).

The CEO of BYMA added: “At BYMA we work every day to enhance the conditions so that more issuers can access the Capital Market and connect their needs with financing opportunities. The objective is to bring the alternatives offered by the market closer to projects that provide benefits for society. Developed countries have developed Capital Markets. In this sense, we have been focusing efforts to provide educational tools throughout Argentina to enhance knowledge about the sector.”

Source: Ambito

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