01 Oct 24 CNV eases double listing regime to encourage foreign companies to list in Argentina

By Agustín L. Cerolini, Martín Chindamo, and Maria Agustina Martín Triscali

Argentine Exchange Commission (for its acronym in Spanish, the “CNV”), through General Resolution No. 1020, has introduced changes to the regulations governing the Special Double Listing Regime for Foreign Companies.

With the issuance of this resolution, the CNV is moving towards a relaxation of the Special Double Listing Regime for Foreign Companies in order to eliminate certain requirements and encourage foreign companies to conduct public offerings of their shares in the country.

This new resolution stipulates that registration with the relevant Public Registry established by Article 118 of the General Companies Law No. 19,550 and its amendments will no longer be required for companies incorporated abroad that intend solely to trade their shares under the Special Double Listing Regime in Argentina.

Furthermore, it is clarified that, as of the entry into force of RG No. 1020, foreign companies will no longer be required to register with the IGJ for the purpose of registration as a branch; however, they must appoint a local representative.