Brazil’s capital markets are suddenly looking attractive, at least for corporates seeking new funds. What was once a moribund platform is now evolving into a key source of funding for Brazilian companies, building on the country’s new-found economic stability. Eleven companies have tapped the São Paulo Stock Exchange (Bovespa) so far this year, including Brazil’s third-biggest private sector bank, Unibanco, while five issues were IPOs.
This builds on last year’s activity when 16 companies issued shares on the Brazilian bourse, of which seven were IPOs, one by fast-growing budget airline Gol.
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