Published On: Mon, Apr 14th, 2014

Interest in listing government companies on stock market is significant step

ListingstockmarketWILLEMSTAD - The Dutch Caribbean Securities Exchange (DCSX) is ready to talk with various stakeholders on the opportunities to jointly create, on short term, to list the first government company on the stock market.

According to René Römer, CEO of the DCSX, the interest of the country Curaçao in the listing of public companies on the stock market is an important step.

Römer believes that this step is positive for the development of local capital markets, as well as for sending a clear signal to the international financial community that Curaçao has a full range of financial services to offer.

Recently, a joint presentation took place between the Curaçao International Financial Services Association (CIFA) and DCSX at the Council of Ministers (RVM). Cifa president, Anuschka Cova and board member Zuleika Lasten stressed on the importance and the potential range of the island as a financial services center.

Several possibilities, including a number of quick wins as a product, were discussed. Also, the emphasis was again placed on really good and fast interaction of the various partners, including the government, to ensure that this sector can once again play a leading role in the economy.

Römer then gave a presentation on the potential for listing public companies on the DCSX.

"The DCSX should be seen as one of the recent added value products in the financial services industry in Curaçao. It is therefore of paramount importance that the government becomes a partner in the success of this product, especially if it provides some very interesting possibilities to re-capitalize and / or refinance its companies. This is why the collaboration between partners and the CIFA, the government, the stock market, institutional lenders like banks, insurance companies and pension funds, becomes a condition for success,” Römer said.

"As Minister of Economic Development Stanley Palm already stated, it is not the intention to sell the public companies. Absolutely not! But you can sell, through the stock, part of the company to the public (and therefore also to the employees) or let the public to participate partly in the financing of public limited companies.

Ultimately, this will mean that the public companies will have more transparency in their policies and their numbers should presented on time, which is beneficial to all of us,” the DCSX CEO said.

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