(Updates with stock trading)
By Walter Bianchi
BUENOS AIRES May 23 Argentina's new stock
exchange known as BYMA began trading on Tuesday at 100
pesos ($6.2) per share in hopes of giving international
investors more options as Argentina's economy opens.
U.S. and Brazilian funds have been buying stocks in
Argentina in anticipation of BYMA, which combines stock exchange
operators Mercado de Valores and the Bolsa de Comercio de Buenos
Aires with other regional exchanges in Argentina, BYMA President
Ernesto Allaria said.
Foreign investors have been seeking more opportunities to
buy Argentine equities since market-friendly President Mauricio
Macri took office in December 2015, especially with Congress
expected to approve a new capital markets law in the coming
"The idea is that all the Argentine markets integrate with
BYMA, the only market where all the instruments are traded,"
Allaria said in an interview.
BYMA debuted at 100 pesos minutes before markets closed and
ended at 150 pesos per share.
Allaria said Brazil's BM&F Bovespa Exchange could
buy a stake in BYMA of up to 20 percent, the maximum allowed
under Argentine law.
"Bovespa said it would buy parts of the markets in Chile,
Peru, Colombia, Mexico and Argentina. It already bought in four
so Argentina is left," he said in an interview.
($1 = 16.10 per dollar)
(Additional reporting by Jorge Otaola; Writing by Caroline
Stauffer; Editing by Jeffrey Benkoe and Sandra Maler)