Share registration costs to be reviewed

(Lima, April 18, 2007).- Supporting the initiative of the National Supervisory Commission of Companies and Securities (CONASEV) to promote the efficiency of the stock market by regulation, supervision and dissemination of information, the Andean Development Corporation (CAF) approved non-reimbursable technical cooperation funds for a study to evaluate the costs associated with share registration in the public registry of the Peruvian stock market.

The agreement signed by CONASEV President Nahil Hirsh Carrillo and CAF representative in Peru Germán Jaramillo is one more example of the multilateral organization's constant interest in developing the Peruvian capital market through optimization of resources.

Including an analysis of the legal framework of the Peruvians stock market, the aim of the study is to facilitate public offerings in the country by rationalizing costs and requirements without prejudice to the need to protect the integrity and transparency of the stock market. The study will also analyze the situation of public equity offerings in countries with developed markets and markets in countries which compete with the Peruvian market.

This initiative is one of the strategies for the stock market contained in the Annual Competitiveness Plan prepared by the National Competitiveness Council, which includes, as action plan for this year, evaluation of possible regulatory changes aimed at cutting the administrative cost of registration in the public share registry of the Peruvian stock market.