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Foreign companies can now be part of ScaleX, the stock market for scaleups promoted by the Santiago Stock Exchange and Corfo, and operate thanks to the infrastructure provided by Depósito Central de Valores (DCV).
Due to a change in the regulation for ScaleX, starting in November of this year, companies registered outside of Chile will also be able to participate. This change is due to the growing interest of companies that are in an advanced stage of growth and meet the requirements but that, due to their registration abroad — usually in the United States — do not have this possibility.
The role of DCV in this process has been essential to developing a tailor-made solution for these companies, "As a market infrastructure provider with more than 30 years of experience, we are proud to provide specialized support to foreign issuers, as well as raising capital and growing as issuers in the country," says Asta Meiszus, Product Manager of the Company.
Through the CapTable service provided by DCV Registros, a subsidiary of DCV, the company is part of developing and strengthening the country's entrepreneurship and investment ecosystem, transforming Chile into an innovation pole in the region, contributing with experience, security, and quality.
CapTable operates mainly as a support for ScaleX. This way, the contracting process is done through this channel, and the specific queries associated with financing and transaction processes are within the platform. All the above, says Asta, "with the same standards with which DCV Registros administers more than 900 registries of corporations shareholders and investment fund investors which provides the confidence that investors need to invest in these scaleups: support, independence, and experience in the proper way of administering securities."
The main benefits available today include cross-listing of a part of the shares of the foreign registry in the local market, access to the OTC market, support for corporate actions, remote support from specialized executives specialized in issuers assistance and natural integration with Depósito Central de Valores.
For the product manager, the importance of developing these solutions lies in the fact that "bridges are built that bring the capital market closer to startups and professionalize certain activities of the market infrastructure."
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