Santander, Actinver partner to bring mid-sized firms to market

Santander México and local financial group Actinver unveiled an agreement Thursday to help bring mid-sized Mexican firms to capital markets in conjunction with the country's two stock exchanges - the BMV and the recently opened BIVA.

Santander México president Hector Grisi Checa said, "This alliance establishes a serious commitment to convert the capital market into a constant source of financing for companies."

The alliance will focus on mid-sized firms looking to raise between 400mn pesos and 2bn pesos (US$19.7mn-US$98.4mn) from 100% Mexican sources of financing, the two companies said in a joint statement.

The collaboration between the country's second largest bank by assets, Santander, and the Actinver financial group - which includes an investment bank and financial services divisions - looks to give mid-sized firms capital market permanence by offering them support in reinforcing their transparency and protection of minority investor rights.

Mid-sized firms will also receive help with designing mechanisms to improve the marketability of the placed shares in order to have efficient price formation.

The alliance will run campaigns and financial education events among potential investors that will also encourage the use of innovative technologies, according to the statement.

Mexico currently has 148 companies listed on the BMV, with a capitalization value of US$379bn, representing 33% of GDP in 2017.