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Report: Colombia mulls stock exchange expansion through new listings

Colombian Securities Exchange President Juan Pablo Cordoba expects to boost trading in the country's stock market by listing new investment funds, including real estate, Reuters reported Aug. 7.

"We're working toward being able to list those assets in the market, so there will be a new class of equity assets, not company shares but a fund that's registered in the equity market and traded as a stock," noted Cordoba.

Real estate investment funds that would be listed would help raise money for building or acquiring structures, like malls and office buildings.

Cordoba also said the 69 companies trading on the bourse should be doubled, and suggested tax regulations be modified for greater investor interest and a more competitive stock exchange.

Total traded share volume in Colombia's local stock market averages about $50 million per day, compared to the daily trading volume of $1.2 billion for domestic public fixed income, and $1 billion for foreign exchange. Cordoba noted new assets could potentially boost market issuance for local stocks to about $2 billion over "the next two to three years."