São Paulo Stock Exchange and CBLC prepare for demutualisation and IPO

Source: São Paulo Stock Exchange

The São Paulo Stock Exchange (BOVESPA) and The Brazilian Clearing and Depository Corporation CBLC) formed a working group to study their demutualization and Initial Public Offering (IPO).

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.

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