The projects, which were endorsed by Economy Minister Paulo Guedes, were delayed in structuring so that the IPO could be made available on time, which should make the bank postpone its plans for next year. This is, according to the newspaper, what the banks that advise Caixa in the operation expect.
The report highlights that the bank's plans were to go public with the insurance division, whose operations are concentrated in Caixa Seguridade, and also the lottery business. In the case of the card division, under Caixa Pay, it was already scheduled for April 2020, which may be postponed due to the delayed releases expected for this year.
According to the newspaper, Caixa is still working to try to make the insurance IPO viable in the last window of the year. The problem is that, for its insurance operation to reach optimal maturity, all future business partnerships and joint ventures need to be structured.
Source: GMB / O Estado de S.Paulo