Cape Verde has new Stock Market Code

31 October 2012

Cape Verde’s new Stock Markey Code, published by the General Audit of the Stock Market (AGMVM) the stock market regulator, is intended to accompany the increasing internationalisation and integration of the archipelago’s businesses, according to a source from the Bank of Cape Verde.

According to pan-African news agency Panapress, the source from the central bank said that the publication of the new Code is intended to boost stability and independence of the AGMVM.

The regulatory framework for the new Code has been redesigned in order to make it more modern and credible, particularly in terms of Public Offerings.

According to the BCV source the new code is also intended to establish rules on new market trends and listed companies, particularly rules related to information published in prospectuses.

The latest report from the Bank of Cape Verde on the stock market, published in August 2011, noted that in 2010 the sector’s primary market had seen demand of around 3.8 million euros, and supply of around 3.2 million euros. (macauhub)