Back to the Markets

Mar 1, 2005

An IPO wave will continue in 2005. Fixed income markets are on an upswing. Does Brazil finally have the mature capital markets it so badly needs? Not yet.

The Sao Paulo Exchange should be busy with IPOs in 2005.
The São Paulo Stock Exchange saw more activity in 2004 than it had in decade. Between May and November, seven companies launched initial public offerings. The IPO wave promises to continue.

"The markets in general are very active. We plan to take advantage of the moment," says Luís Frias, president of media giant Grupo Folha, which recently reorganized its corporate structure in readiness for an IPO (see On the Launch Pad, p. 58). Also reportedly preparing to go public are online retailer Submarino, airline TAM, retail chain Magazine Luiza, highway concessionaire Ecovias, state bank Nossa Caixa and apple exporter Renar Maçãs. 

Issuers are cashing in on one of Brazil's most sustained periods of economic stability in recent memory. Since the turbulence of 2002, when investors feared the incoming government of...

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