December 28, 2010 / 9:07 PM / in 8 years

UPDATE 1-Peru Congress passes bill on stock mkt integration

LIMA, Dec 28 (Reuters) - Peru’s Congress approved a bill on Tuesday that will facilitate the integration of the country’s stock market with those in Chile and Colombia.

Bourse officials in Lima said the integration effort depended on passing the legislation, which unifies capital gains taxes at 5 percent for retail investors.

Officials have said the integration effort will bring together stocks of about 560 companies, more than any other bourse in Latin America. Under the cooperation pact, stocks will be cross-listed on each of the exchanges of the three countries.

Together, the Santiago .IPSA, Bogota .IGBC and Lima .IGRA bourses are expected to have daily volume of about $300 million, trailing trading volumes in Brazil and Mexico.

Officials said the integrated operations will make it easier for companies to get financing in the three countries. (Reporting by Marco Aquino; editing by Carol Bishopric)

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