Brazil’s BR Partners Investment Bank Will Resume IPO Plans, CEO Says

RIO DE JANEIRO, BRAZIL – Brazil-based BR Partners will relaunch its plans for an initial public offering in the coming days, CEO Ricardo Lacerda told S&P Global Market Intelligence.

BR Partners is one of the leading independent investment banks in Brazil. It could file for the offering as soon as January 26th, said Lacerda, who is also the company’s founding partner.

The independent investment bank had shelved a planned IPO on Brazil’s B3 exchange in September 2020 due to market volatility, but it now believes the market is in a better place to welcome its offering.

Although uncertainty stemming from the pandemic had initially prevented several Brazilian share offerings from taking place, some players have started to move forward with their public listing plans. On January 19th, asset manager Vinci Partners Investments Ltd. announced that it had launched an IPO.

BR Partners intends to raise money to strengthen its capital, aiming to expand loans, according to the document filed with the exchange.

Founded 10 years ago by Ricardo Lacerda, Andrea Pinheiro and Jairo Loureiro, BR Partners posted a net income of R$45.4 (US$8.5) million in the first half of 2020, with a return on equity of 30.4%.

The bank did not disclose the price range of the offering or the amount it seeks to raise.

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