Morgan & Morgan Legal advised Supermercados Xtra, S.A. in connection with the registration of common shares for an amount of up to US$45.5 million.
July, 2022 - Panama City, Panama
Morgan & Morgan Legal advised Supermercados Xtra, S.A., one of the leading supermarket chains in Panama (the “Issuer”), and its shareholders in the registration of its 12,500,000 common shares (the “Common Shares”) with the Superintendency of Capital Markets of Panama for their negotiation in a secondary market transaction through the Latinamerican Stock Exchange ("Latinex”). The Common Shares were successfully placed and sold in the secondary market of Latinex to almost 250 new investors for a sum in excess of US$45,500,000.00. This transaction is the first placement of common shares in Panama by an issuer of the retail sector in the last 20 years.
BG Valores, S.A. and Prival Securities, S.A. acted as agents for the listing of the Common Shares on the Latin American Stock Exchange, and BG Investment Co. Inc., acted as financial advisor and bookrunner.
Partners Francisco Arias G. and Ricardo Arias A., and international associate Miguel Arias participated in this transaction.
