RIO DE JANEIRO, BRAZIL - According to Bank of America Corp., stock offerings by Brazilian companies will likely reach more than R$159 (US$31) billion this year, which should surpass 2020 as the strongest ever.
Through August 30, the total raised stands at R$126 billion, a 40% increase over the same period in 2020, data compiled by Bloomberg show. Initial public offerings (IPOs) have already reached a record high.
In contrast, retailer Magazine Luiza and hospital operator Rede D'Or São Luiz have resorted to follow-on offerings to fund acquisitions and post-pandemic growth.
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