INCADE S.A.E. sits at an unusual crossroads: a private university group that also issues bonds on Paraguay’s market. It runs Universidad Americana, one of the country’s largest private universities, and recently drew a foreign buyer — yet much of its inner workings remain shielded from public view. Full nameInstituto de Capacitación y Desarrollo Empresarial Sociedad Anónima Emisora (INCADE S.A.E.) Ticker / exchangeICA.PY on Bolsa de Valores de Asunción (bond programme registered; equity listing not confirmed by primary exchange sources) HeadquartersAvenida Brasilia 1100, Asunción, Paraguay SectorPrivate higher education and bond issuer …
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