National Stock Exchange of Costa Rica

Exchange entity Bolsa Nacional de Valores S.A.
Conducts business in Costa Rica
Number of listed companies (May 2018) 59
Domestic market capitalization (in Millions USD, May 2018) 2,839
Has signed the SSE Commitment Letter? Yes
Has report on sustainability? Yes
Requires ESG reporting as a listing rule? No
  • There is mandatory corporate governance regulation for the securities market, issued by The Securities Regulator (SUGEVAL). Regulation in Spanish here
Offers written guidance on ESG reporting? No
Offers ESG related training? No
Provides sustainability-related indices? No
Has sustainability bond listing segment? Yes
  • There is a specific section on the website that shows: general information, on-line training, benefits for issuers, the standard for the emission and so on. Green bonds section here
Additional Information
  • The BNV promotes projects that generate economic, social and environmental value, such as:
    • Providing textbooks, school supplies and computer labs to schools, as well as facilitating improvements in classroom infrastructure.
    • Supporting new entrepreneurs as a jury and sponsor of the Seedstars Costa Rica edition, an event that awards innovative small entrepreneurs with potential projects.
  • BNV Aprenda is a form of self-taught training online which allows users to learn about the Costa Rican stock market.
  • MAPA, the Mercado Alternativo para Acciones , is an initiative that promotes raising capital for small- and medium-sized enterprises (SMEs). Through MAPA, BNV helps SMEs in adopting governance best practice and becoming more professional.
Organizational model of stock exchange
  • Private company owned by the brokerage companies (mutualized), and it is not a listed company.
Regulatory bodies
Regulatory model
  • Government (Statutory)
About the stock exchange
  • Location: San José, Costa Rica
  • Founded: 29 September 1976
  • The National Stock Exchange of Costa Rica is a private organization owned by brokerages in accordance with the Securities Market Regulatory Law. The main purpose of the exchange is to facilitate transactions with securities, as well as the authorization, inspection and regulation of brokers. In addition, the exchange provides the technological platform that facilitates the trade of securities, and provides a meeting point between investors and issuers that requires financing of public and private projects.
  • The exchange is the only platform for the secondary market, based on national regulation.
  • The BNV contributes to the formation of prices of traded securities and provides a strong regulated structure that gives transparency and confidence to the various market participants.
  • The BNV is the biggest and oldest exchange in the Central America region.
Shareholder Shareholding %
Lafise Valores, Puesto de Bolsa, S. A. 4.12%
Inversiones SAMA, S. A. 4.18%
Scotia Valores, S. A. 4.45%
Banco Crédito Agrícola de Cartago 4.54%
Popular Valores, Puesto de Bolsa, S. A. 4.64%
Mutual Valores, Puesto de Bolsa, S. A. 4.65%
Improsa Valores, Puesto de Bolsa, S. A. 5.54%
ACOBO Puesto de Bolsa, S. A. 5.68%
Aldesa Puesto de Bolsa, S. A. 5.68%
BAC San José Valores, Puesto de Bolsa, S. A. 5.68%
BCR Valores, S. A. 5.68%
BCT Valores, Puesto de Bolsa, S. A. 5.68%
BN Valores Puesto de Bolsa, S. A. 5.68%
Davivienda Puesto de Bolsa (Costa Rica), S. A. 5.68%
INS Valores Puesto de Bolsa, S. A. 5.68%
Citi Valores Accival, S. A. 11.36%