The Boards of both institutions have approved the decision, which was already informed to the exchange’s brokerage member houses and to the CBLC’s shareholders.
The objective is to pursue the new challenges of the Brazilian capital market and to respond to the increasing international competition. The demutualization process also intends to increase the value of the invested capital through the improvement of the business model, as well as the strategy and governance standards.
BOVESPA follows a trend that has already changed the structure of exchanges around the world. Today, over 90% of world’s total stock market capitalization is on demutualized and/or publicly-listed exchanges.
