The listing of Braskem, a leading company in thermoplastic resins, will strengthen the exposure of the petrochemical sector on Latibex and subsequently its weighting on the market's FTSE Latibex All Share index. Santander Central Hispano Bolsa will act as the specialist intermediary for Braskem's stock.
Braskem is Latin America's biggest petrochemical company and ranks among Brazil's five biggest private corporations. Its innovative business model integrates petrochemical activities of first and second generation. The company, which employs around 2,800 people, posted a sales figure for the year 2000 of over € 3 bn and produced 5 million tons of resin and other basic and middle-end petrochemical products. Of the more than € 3 bn sales posted by the company in 2000, € 450 million correspond to exports made by Braskem to major international markets, with almost 60 % of the exports being directed to Europe and North America.
Braskem has adopted modern corporate governance. Up to 25% of the company's share capital is currently traded on Bolsa de São Paulo (Bovespa) and also through American Depositary Receipts (ADRs), on the New York Stock Exchange.
The company directors, led by its Chairman José Carlos Grubisich and Deputy Director of Finance Paul Altit, will on October 7th present the company to the public at the Bolsa de Madrid.
