Squire Patton Boggs Advises César Iglesias in the First Public Offering of Shares in the Dominican Republic’s History

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    Squire Patton Boggs Peña Prieto Gamundi acted as exclusive legal counsel to César Iglesias, S.A., which company will be the first to issue shares in the stock market of the Dominican Republic.

    César Iglesias is a company with more than one hundred years of history, close to three thousand employees and more than sixty mass consumption brands.

    The approval of the offering by the Superintendence of the Securities Market was announced during an event held at the JW Marriot of Santo Domingo on April 6, 2022.

    Squire Patton Boggs partner Awilda Alcántara-Bourdier led the legal advisory team through a process that began several years ago with a corporate restructuring and a first stage of modernization of the company's internal corporate regulations.

    The legal team of Squire Patton Boggs Peña Prieto Gamundi that accompanied César Iglesias in its preparation and adaptation before requesting authorization to become a listed public company, was co-led by Miguel Cano, who specializes in capital markets, and included Alejandro Peña-Prieto, managing partner of the Santo Domingo Office, María Pía García, Isabella Santoni, Rita Mota, Angel Jimenez and Sara Lezcano.

    Throughout the process, César Iglesias received specialized advice from Squire Patton Boggs in matters related to corporate restructuring and securities market regulation. In particular, the firm was responsible for adapting the by-laws and the corporate structure of the issuing company to the legal and regulatory framework of the securities market of the Dominican Republic.

    Likewise, the Squire Patton Boggs team was responsible for creating the company's corporate governance program, which involved the drafting of a corporate governance code, code of conduct, internal regulations of the board of directors, internal regulations of the executive, auditing and compliance, risks and nominating and compensation committees, policies regarding inside information and insider trading, operations with related parties and conflict of interest, disclosure of information, communication with shareholders, an investor queries and services manual, among others.

    The investment banking firm INVESTA Capital Partners acted as exclusive financial advisor to César Iglesias. The offering was structured by BHD León Puesto de Bolsa and will be commercialized in collaboration with Inversiones Popular - Puesto de Bolsa. Fitch Ratings and Feller-Rate acted as risk rating agencies for the company.

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