Rofex sells 5% of its capital for US$10 million

Buenos Aires. January 22nd. The Rosario Futures Exchange (Rofex) announced that they sold the 5% of its capital to Orange Equity Partners, for about ten million dollars.

“The entering of high qualified investors, both foreign as local levels, is a relevant event for the Rofex, that provides a confidence signal for the activity of the market”, Mr. Andres Ponte, chairman of Rofex said in a press release.
According to this press release, OEP is a capital fund formed mostly by Dutch players “convinced about the prominent future of the capital markets in Argentina”.

The director of OEP in Argentina is Carlos Leopoldo Wagener, a professional graduated at the Catholic University, with special focus into developing new business around agro-investment. He said that the decision of entering as shareholder of Rofex was based in the leading position of this company, its professional management and its technological high level, furthermore the large potential of the domestic capital markets. Mr. Wagener anticipated that OEP is interested in to continue investing in strategic sectors of the Argentine economy.

According to an article from commercial newspaper El Cronista, the Rosario Grain Exchange (BCR) previosly owned the 42.6% of the Rofex’s shares. After the operation they reduced its participation 5pp to 37.6 percent. This operation was previous to the merger with Buenos Aires Futures Exchange (MATBA). The operation marks too an aproximation to the market value of ROFEX, i.e. about 200 million dollars.

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