Votorantim Cimentos has announced its intention to raise $5.4bn through an initial public offering that will be the world’s biggest this year if realised.
In a filing to the Securities and Exchange Commission, Brazil’s largest cement company by sales said it planned to raise the money through a listing in Sao Paulo and an American Depositary Shares offering on the New York Stock Exchange. Continue reading »
Brazilian cement group Votorantim Cimentos has become the latest to join a queue of companies looking to launch initial public offerings in spite of a poorly performing market.
The cement company, part of the Votorantim conglomerate, is planning to raise more than $1bn from a dual listing in Brazil and New York, according to a person familiar with the matter. Continue reading »
Banco do Brasil eyes $6bn spinoff. Can it be done?
Another day, another Brazilian company outlining plans for an initial public offering.
On Wednesday, Banco Do Brasil, Latin America’s largest bank by assets, said it was seeking to raise as much as R$12.15bn ($6bn) from the spinoff of its insurance and pension unit, BB Seguridade.
But talk is cheap. Given the lacklustre IPO market in Brazil at the moment — the Bovespa index is down nearly 12 per cent since the start of the year — can Banco Do Brasil pull off what would be the world’s biggest IPO so far this year? Continue reading »
LatAm Q1: tequila time
Investors’ attitudes towards Mexico have become unmistakably upbeat over the past year.
For proof, look no further than the latest Dealogic review of fundraising and dealmaking activities in Latin America. In the first three months of this year, Mexico has led the pack for both share sales and mergers and acquisitions – taking the crowns that previously belonged to Brazil. Continue reading »
A Brazilian IPO revival? Not so fast
What is the dirty not-so-secret secret of Brazil’s capital market? The answer is here in this chart from Dealogic. (see after jump) Continue reading »
RJF throws in the towel on Brazil
Anyone who has ever worked in Brazil, set up a company or in fact tried to do anything in the country will feel their pain. Raymond James Financial said on Tuesday that it was shutting down its equity research unit in Brazil because of tax and regulatory hurdles. Continue reading »
[video] Is Mexico the new Brazil?
After rising pretty much in tandem Brazil and Mexico’s stock markets have diverged in recent months. Jonathan Wheatley, deputy emerging markets editor, analyses why Mexico has out performed and whether Brazil’s will rediscover its wings.
Mexico v Brazil: stock market edition
For all of you out there who can’t get enough of the Mexico versus Brazil debate, here’s something else to chew over: the diverging fortunes of the countries’ two stock markets.
Mexico’s benchmark IPC index on Tuesday hit a record high for the third consecutive session while Brazil’s Bovespa continues to languish, having dropped 27 per cent since mid-March. Continue reading »
Brazilian equities: everybody out?
Is the love affair between foreign investors and Brazilian equities on the wane? While the flight to safety has affected equity markets around the world, Brazil has been taking it to the chin more than others.
Equity funds pulled $1.03bn out of Brazil this May, according to data from EPFR Global. That is more than 1 per cent of the funds’ Brazilian equity holdings at the beginning of the month and is the biggest monthly outflow since August 2011. Continue reading »
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Stefan Wagstyl
Rob Minto
Pan Kwan Yuk
Jonathan Wheatley
Heba Saleh