shares on the Peru and New York stock exchanges, Bloomberg business news service said.

Credicorp, incorporated in Bermuda on August 17, is Peru's largest an newest financial holding company.

It was formed by Banco del Credito del Peru, Pacifico-Peruano Suiza Insurance Co. and Atlantic Security Holding Corp.

Credicorp will provide personal banking, insurance, stock brokerage and asset management services and act as a bridge to international capital markets.

Shareholders in these three companies have until October 20 to swap their existing shares for shares in the new company.

The swap is not obligatory since all three companies will continue to exist, said Bloomberg.

at least 55 percent of each company's shareholders must swap their shares for Credicorp to go forward, said Morgan Stanley's Peru representative Mr.

Christopher Kelly.

Morgan Stanley is the managing underwriter of the share sale.

Over half Atlantic's shareholders and Pacifico-Peruano favour the swap and Banco del Credito shareholders are anticipated to follow suit.

Once the swap is complete, Credicorp will sell the shares in New York with offer price set in first half of November.

The company will be the second largest financial entity in Latin America outside Mexico and Brazil.

Banco del Credito is Peru's largest bank while Pacifico-Peruano is that country's largest insurance company. Atlantic is a unit of Banco del Credito.