Argentine entrepreneurs found Patagonia Stock Exchange Market

Argentine businesspeople from the Patagonian provinces of Tierra del Fuego, Santa Cruz and Chubut announced the creation of a regional stock exchange market for the development of their scaled-back industrial projects.

“We need to count on four different regional stock markets in the country. We now have three, in Rosario (in the Santa Fe province), Cordoba and Mendoza. We thought there was one missing in Patagonia,” said Diego Lo Tartaro, president of the Argentine Institute for the Development of Regional Economies (IADER is the acronym in Spanish).

The Patagonia Stock Exchange Market –chaired by Tierra del Fuego’s former governor Adolfo Sciurano Castageda- is an initiative presented by a handful of corporate people, regional chambers of commerce and trade professionals from Patagonia and IADER.

Mr. Tartaro explained biddings on the new stock exchange market’s floor will kick off as soon as next April with 10 to 15 companies putting the shares on sale.

“We believe the new stock market must be directed to cater for mid-size enterprises,” Mr. Tartaro averred.

“We must demystify the concept that capital markets are exclusively made for big-time companies and win back the momentum that mid-size firms grew to have in the early 1960s when shares from over 600 such companies where up for grabs in the market, rubbing elbows with the cream of the top,” he concluded.