Brazil is best known for Carnivals, giant Jesus statues, and extreme waxing. But coming soon it will be known for it's Stock Exchange on steriods. According to Bloomberg the greatest IPO of the Year, Bovespa Holdings SA, will raise as much $3.67 billion with the estimated price of 20-23 reais per share. With 705 shares outstanding, Bovespa will be almost twice the size of Nasdaq.
The most interesting part of the Brazilian exchange is the fact that other Latin American countries list their companies on it as well since places like the Columbian exchange is not inspiring confidence. Though I am quite bullish on spot prices for blow.
This is turning out to be good month for Brazilian issues. Currently priced this month has reached $2.04 billion:
Sul America SA (Insurance-Multi-line)
Construtora Tenda SA (Residential Construction)
Banco Industrial e Comercial SA - BICBANCO (Commercial Bank)
Trisul SA (Residential construction)
SEB - Sistema Educacional Brasileiro SA (Schools)
Marisa SA (Department Stores)
If the deals for the rest of the month price it will bring the volume of Brazilian IPOs to $8.035 billion for October.
Helbor Empreendimentos SA (Real Estate)
Brasil Brokers Participacoes SA (Real Estate)
Laep Investments Ltd (Finance)
Agrenco Ltd (Agriculture)
Amil Participacoes SA (Healthcare)
Bovespa Holding SA (Securities Exchange)
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