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 »
It doesn’t matter how many cancelled or failed IPOs there have been in Brazil over the past couple of years, there will always be one more company willing to try its luck, it seems.
This time around it is Linx. The technology and software provider for retailers published a prospectus on its website on Friday detailing plans to raise as much as R$528m ($259m) in an initial public offering. Continue reading »
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 »
It’s not the industry that normally springs to mind when you think of Brazil, but insurance is fast becoming one of the country’s investment hotspots.
Growing income among Brazil’s new middle classes and a tight labour market are boosting demand for health and auto policies. Meanwhile, the vast infrastructure projects underway to get the country ready to host the World Cup in 2014 and the Olympics two years later also offer huge opportunities for insurance companies. Continue reading »