bolsa de valores de lima venture exchange

BOLSA DE VALORES DE LIMA
VENTURE EXCHANGE
I.
BVL - Venture Exchange
This is a specialized mechanism created by Bolsa de Valores de Lima - BVL (Lima
Stock Exchange) with the purpose of offering to Latin America Junior mining
companies the possibility and necessary facilities to obtain required financing - through
the issue of stocks - to be able to undertake exploration and development activities. This
new mechanism meets the international standards required for its compliance.
Peruvian
Capital
Market
Local and
Foreign
Exploration and
BVL
Resources
Investors
Venture
Exchange
Resources
Development of
Mining
Properties
High Risk
High Yield
II.
How to secure financing
Junior mining companies may obtain financing through an Initial Public Offering of
common stocks previously filed with the Securities Market’s Public Registry. The stock
will be subsequently listed for secondary trading in the BVL - Venture Exchange.
III.
Minimum Requirements
Junior mining companies wishing to conduct an Initial Public Offering and list their
stock in the BVL - Venture Exchange must:
9
9
9
9
9
Have a board of directors and managerial staff experienced in mining activity.
Have invested at least US$ 75,000 in exploration during the three preceding
years.
Present a geological report prepared by a Qualified Person, recommending
future exploration and development work for at least US$ 150,000 , not
including contingencies.
Have sufficient funds, following the Initial Public Offering, enabling future
exploration as recommended in the geological report, covering overheads and
administrative expenses while maintaining the property in good standing
during the ensuing 12 months. In addition have additional US$ 75,000 worth of
non-allocated funds.
Have a stock brokerage firm to act as Sponsor.
IV.
Sponsor
The work responsibility of the Sponsor can be carried out by stock brokerage firms. The
brokerage firms would be called to play a crucial role within the operating scheme of
the BVL - Venture Exchange, and would be responsible for advising Junior mining
companies on the feasibility of being listed in that exchange, undertaking the necessary
Due Diligence and preparing the Sponsor’s Report required by the BVL.
V.
Code for the Disclosure of Mining Information and Qualified
Person
Junior mining companies wishing to be listed in the BVL - Venture Exchange must
comply with the Code for the Disclosure of Mining Information, which is based on
the Australian JORC Code, considering and including adjustments and changes showing
in the Canadian National Instrument 43-101.
Additionally, Junior mining companies must rely on a Qualified Person responsible
for the geological report required for the Initial Public Offering and listing in the BVL Venture Exchange. The Qualified Person must be a competent professional with
experience and able to prepare the required geological report. The Qualified Person
must be so recognized by a Qualification Committee comprised of recognized local and
international mining professionals.
Mining
Company
Investors
Relevant Information
Code for the Disclosure of Mining Information
Comunication: Transparent, Relevant and Competent
International Standards
Quality of Information
Minimization of risk of wrong behavior and fraud
in mining endeavors
The Code for the Disclosure of Mining Information makes it mandatory that all
technical mining information disclosed by the Junior mining companies to potential
investors or their shareholders be prepared in compliance with technical standards, in a
concise and not ambiguous manner, by a Qualified Person, so that the information
presented is of top quality, minimizing the risk of wrong behavior and fraud in mining
projects, thus gaining the confidence of investors.
VI.
Steps required to conduct an Initial Public Offering and Listing in
the BVL - Venture Exchange
Junior mining companies wishing to conduct an Initial Public Offering and list their
stock in the BVL - Venture Exchange must comply with the steps set out below:
i.
Directors and management must determine whether or not the Junior mining
company is able to carry out an Initial Public Offering:
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9
9
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Review of the company’s financial statements and business program.
Assess the advantages and obligations resulting from an Initial Public
Offering.
Internal organization to ensure an efficient Due Diligence process.
Evaluate the capabilities of directors and managers to meet the Securities
Market regulations.
ii. Select the professionals to work with and advise the Junior mining company
during the Due Diligence process:
Sponsor
Qualified Person
Auditors
Attorneys at law
iii. The Board of Directors and management, in coordination with the professionals
responsible for the Due Diligence process, must evaluate the capabilities of the
Junior mining company to carry out an Initial Public Offering and to meet BVL Venture Exchange requirements.
iv. The professionals responsible for the Due Diligence process, in coordination with
the company, will prepare the documents necessary for the Initial Public Offering
and for its listing in the BVL - Venture Exchange.
v.
Delivery of the documents to the BVL and to the Peruvian Securities Commission
- CONASEV, for its corresponding review and approval.
vi. Having obtained Initial Public Offering approval from CONASEV and having
verified compliance with the public distribution requirements stipulated in the
regulations, the BVL will list the Junior mining company's stock in the BVL Venture Exchange for secondary trading.
Stock Brokerage Firms
BOSTON SECURITIES SOCIEDAD AGENTE DE BOLSA S.A.C.
Las Begonias 441, Piso 8, Oficina A, San Isidro
Telephone: 211-6600
Fax: 211- 6601
LATINOAMERICANA SOCIEDAD AGENTE DE BOLSA S.A.
Av. José Pardo 223, Piso 13, Miraflores
Telephone: 241-2750 / 241-2751 / 241-2753
Fax: 445-0305
CENTURA SOCIEDAD AGENTE DE BOLSA S.A.
Torre Interbank Jr. Carlos Villarán Nº140, Piso 5, La Victoria
Telephone:219-2300
Fax: 219-2311
MGS y ASOCIADOS SOCIEDAD AGENTE DE BOLSA S.A.
Manuel Bañón 205, San Isidro
Telephone: 422-3636
Fax: 422-4395
CITICORP PERU SOCIEDAD AGENTE DE BOLSA
Av. Canaval y Moreyra 480, San Isidro
Telephone: 215 2000
Fax: 421-0556
PERUVAL S.A. SOCIEDAD AGENTE DE BOLSA
Los Incas 172, Piso 7, San Isidro
Telephone: 421-4527 / 421-9018 / 221-3759
Fax: 421-6668 / 421-8824
CONTINENTAL BOLSA SOCIEDAD AGENTE DE BOLSA S.A.
Av. República de Panamá 3065, Piso 2, San Isidro
Telephone:211 - 2380
Fax:211 - 2440 / 211 2490
PROMOTORES E INVERSIONES INVESTA S.A. S.A.B
Francisco Masías 544 Piso 12, San Isidro
Telephone: 422-0400 / 221-6818 / 422-8290 / 422-9627
Fax: 422-0360
CREDIBOLSA SOCIEDAD AGENTE DE BOLSA S.A.
Calle Centenario 156, La Molina
Telephone: 313-2916 / 625-2916
Fax: 313-2915 / 625-2915
PROVALOR SOCIEDAD AGENTE DE BOLSA S.A.
Santa Cruz 480, San Isidro
Telephone: 421-6209 / 421-6212 / 421-4187
Fax:441-4421 / 222-5045
FINVEST SOCIEDAD AGENTE DE BOLSA S.A.
San Felipe 370, Piso 2, Jesús María
Telephone: 463-5029 / 463-3713 / 463 5010
Fax:463-2297
SANTANDER INVESTMENT SAB S.A.
Av. Rivera Navarrete 698, Piso 5, San Isidro
Telephone: 215-8100
Fax: 215-8185
GRUPO CORIL SOCIEDAD AGENTE DE BOLSA S.A.
Av. República de Panamá 3420, San Isidro
Telephone: 611-8000
Fax: 611-8001
SEMINARIO Y Cía. SOCIEDAD AGENTE DE BOLSA S.A.
Av. Central No.717, oficina 601A, San Isidro
Telephone: 621 0000
Fax: 621-0010
INTERCAPITAL SOCIEDAD AGENTE DE BOLSA S.A.
Jr. Chinchón 944, Piso 7, San Isidro
Telephone: 215- 4130
Fax:215-4188
INVERSION Y DESARROLLO
SOCIEDAD AGENTE DE
BOLSA S.A.C.
Calle 7 Nº391, Urb. Corpac, San Isidro
Telephone: 476-8736 / 476-8835
Fax: 476-8835
JUAN MAGOT & ASOCIADOS SOCIEDAD AGENTE DE
BOLSA S.A.
Miro Quesada 247, Oficina 303, Lima
Telephone: 428-7026 / 427-1020 / 428-2948 / 427-4158
Fax: 427-0890
SOCIEDAD AGENTE DE BOLSA CARTISA PERU S.A.
Miro Quesada 247, Oficina 503-504, Lima
Telephone: 427-9300
Fax. 427-3814
SUDAMERICANO BOLSA SOCIEDAD AGENTE DE BOLSA
S.A.
Av. Camino Real N° 815, Piso 4, San Isidro
Telephone:422-2343 / 422-2313 / 422-2273
Fax: 422-2225
SURINVEST SOCIEDAD AGENTE DE BOLSA S.A.
Miro Quesada 247, Oficina 209, Lima
Telephone: 427-1351 / 427-1373 / 428-0401
Fax: 428-0401
WIESE SUDAMERIS SOCIEDAD AGENTE DE BOLSA S.A.
Av. Conquistadores 1098, San Isidro
Telephone: 211-6040
Fax: 211-6039
The contents of this brochure are solely for information purposes. For any decisions related
to the BVL - Venture Exchange, the respective regulations should be reviewed and a stock
brokerage firm should be consulted.
The regulations governing the BVL - Venture Exchange, the Code for Disclosure of Mining
Information and the requirements to perform as a Qualified Person may be found in the BVL
web site (www.bvl.com.pe).
Pasaje Acuña 106, Lima 1, Perú
http://www.bvl.com.pe
Telfs (51-1) 619 3333 / 619 3335
Fax (51-1) 619 3334
email [email protected]