Easier initial placement for retailers

On 04/12/2024, the National Securities Commission (Comisión Nacional de Valores, CNV) issued an update regarding Easier initial placement for retailers. The new regulation allows the commission to increase the non-competitive bid allocation percentage from 50% to cover the total amount offered by the issuer if there is space after competitive bids are awarded. This modification aims to maximize the placement for emitters and improve process efficiency, incorporating minoristas (minor investors) in the placement process.