BanBif's is the fifth-largest Peruvian bank, has a mid-size franchise and has managed to gradually consolidate and strengthen its competitive position in the second-tier market
, but is still very small compared with the four largest Peruvian banks.
"While the premium-tier establishments will continue to demonstrate strong performance, we will likely see rents start to fall in the second-tier market
in the coming years." Sean Kelly, project director, Place Vendme echoed this prediction.
"What we need is a second-tier market
with more flexible conditions for listing which can act as a stepping stone to access the first tier market," said Dr Saidi.
An alternative or second-tier market
allows smaller and mostly higher risk companies to float their shares by lowering the regulatory threshold in comparison to a main market.
The ratio for lots who did not meet their reserves last time is 58 per cent colts to 42 per cent fillies, suggesting the second-tier market
could be tougher on fillies than colts.
Of the 231 companies that took part in PKF's second survey into the state of the market, 85 per cent said they were satisfied that the second-tier market
had met or exceeded their expectations, while 82 per cent thought that it had improved or at least had not deteriorated further.
A small business with typical traffic in a second-tier market
can easily incur $300-$500 monthly costs for a 128-kbps ISDN line.
Clearly, there's no way that all of these companies can possibly end up with first- or second-tier market
shares; probably most will be lucky to hold even 5% of the total pie.
Overall sales revenue from comparable stores declined by 3.3% while sales revenue from comparable stores in the second-tier market
recorded increase of approximately 1.2%.
Dubai International Financial Centre is working on a plan to launch a second-tier market
to offer smaller companies the opportunity to tap growth capital, the Centre's chief economist Nasser Saidi said last week.
And the overall record of second-tier market
leaders has been dreadful with just two succeeding over the past 12 years - Manchester City and Sunderland (both 7-2) did the business for favourite backers in 2001-02 and 1998-99 respectively.
Hurel-Dubois is quoted on the Paris stock exchange second-tier market
. The transaction will not have any impact on the world market for the supply of pods, where the merged entity will account for some 23% and the US company BF Goodrich, its main competitor, for around 40%.