Economy October 18, 2019 | 9:20 am

Dominican investors snap up milestone equity IPO

Santo Domingo.- Dominican investors responded positively to the first public offering of equity in Dominican Republic’s securities market where they acquired the total of the shares offered in the first tranche of the issuance by Grupo Rica.

“A week before the end of the term granted, 38.6 million shares were placed at RD$100 each in the primary market, in a relatively short time,” Diario Libre reports.

The offer went on the market on September 27 to be placed until October 17 and by the 14th of this month they had sold out, “so all the people who wanted to be Grupo Rica stakeholders after this date stayed to do so in the secondary market, which starts today.”