VIE 3 DE MAYO DE 2024 - 09:49hs.
Initial stock offerings

Brazil’s Caixa wants foreign leading IPOs, to make block listing

The 'Broadcast Column' of local newspaper Estadão ensures that Brazil’ state-owned Caixa Econômica Federal wants foreign banks to lead the initial offerings of shares of its four subsidiaries: Caixa Security, Lottery, Card Unit (Caixa Pay) and Management Asset. It is no coincidence that operations will take place at B3, in São Paulo, and also in New York, in double listing.

Guarantee

The intention of the public bank is to demonstrate to the market that the companies to be listed are prepared to screen the North American market and thereby generate value for the offer.

In addition, Caixa negotiates partnerships with international insurance and card companies and, in such cases, having a foreigner as an advisor can make a difference.

More than a dozen

Caixa Security has attracted 15 interested parties in the first round to offer third-party products through the public bank, a move that precedes its public offering.

Some of them signed an exclusive contract for one or more branches and others closed them all.

The deadline for entering the Caixa's insurance counter dispute in the residential and residential, automobile, consortium and capitalization branches ended on Tuesday this week.

The movement attracted names like IRB Brasil Re, BB Seguridade, Chubb, Allianz, Icatu, Tokio Marine, Bradesco, Generali and HDI, among others. Asked about this issue, Caixa Securities did not comment.

Source: GMB / Estadão