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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 conc

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