December 31, 2007
The Bovespa wants to attract more business from non-Brazilian issuers, Gilberto Mifano, the exchange’s CEO, tells LatinFinance. The exchange, which this year went public in a blowout IPO, is planning a more proactive approach and will visit other LatAm markets, says Mifano. He adds that the process will be transparent and in collaboration with exchanges and regulators. “This is not going to be an imperialist process to steal away market share,” says the official. Bovespa attractions that the exchange will look to highlight include access to international investors and better liquidity. “Foreigners are very comfortable buying into Brazilian companies on the Novo Mercado,” says Mifano. He notes that offshore investors purchase 70%-80% of new issues on the Bovespa.