BM&FBOVESPA SA said Jan. 26 that it is now the largest shareholder of Bolsa de Valores de Lima SA after raising its stake to 8.59% through some 50.7 million Peruvian soles in market purchases.

The stake purchase, which had been rumored in late 2016, marks BM&FBOVESPA's latest investment in other Latin American bourses. The São Paulo-based stock exchange also holds a 10.4% equity stake in Santiago's stock exchange, as well as sizable ownership stakes in exchanges in both Colombia and Mexico.

In announcing its latest stake purchase, BM&FBOVESPA noted that it "will continue to assess investment opportunities in other companies in the region, whose activities are connected to its core business."

BM&FBOVESPA also noted that its board appointed Roberto Augusto Belchior da Silva to serve as the company's managing director of market development for Latin America.

As of Jan. 25, US$1 was equivalent to 3.28 Peruvian soles.