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BM&FBOVESPA and Banco do Brasil have signed a cooperation agreement that seeks to strengthen Brazil’s capital market by making it accessible to a greater number of participants. The agreement will mainly focus on companies that are the target of investments made through the Banco do Brasil Private Equity Program. Among the main initiatives are promoting the listing of new companies in the Bovespa Mais and Novo Mercado segments; and the dissemination of best corporate government practices in these firms.
Present at Monday’s event were BM&FBOVESPA Chief Executive Officer Edemir Pinto; the Exchange’s Chief Business Development Officer José Antonio Gragnani; Banco do Brasil’s Vice-President of Finance, Capital Markets and Investor Relations Ivan Monteiro; and Banco do Brasil’s Director of Capital Markets and Investment José Maurício Pereira Coelho.
According to this agreement, the two institutions will hold discussion forums and promote studies into the importance of the Exchange in raising capital for Brazilian companies. Events are also planned with the companies that have received investments via Banco do Brasil’s Private Equity Program, with the objective of helping them to prepare to list on the Exchange. These planned events are along the lines of the already-established Bovespa Mais Meetings.
“This partnership is a benchmark for the Brazilian capital market,” said Edemir Pinto. “With this agreement we intend to show how the Stock Exchange is accessible to companies and how going public brings benefits not only in terms of firms’ own business but also for the economy of the entire country, generating return in the form of taxes, jobs, revenue and more development.” According to Ivan Monteiro, this is a “perfect match”. “This partnership has everything going for it. Banco do Brasil has an enormous network with companies and the Exchange is the home of the capital market,” he said.
As one of the main financial institutions in the country, Banco do Brasil has access to a broad base of closed capital companies that are candidates for a stock exchange listing. The agreement signed on Monday evidences the interest of both parties in increasing the dynamism of the Brazilian capital market and in raising the number of firms listed on the Exchange, whether via the Novo Mercado or by Bovespa Mais.
