Tuesday, June 30, 2009

World's Largest IPO This Year: Bradesco and BB to Profit USD$1.7B With VisaNet

VisaNet's IPO was the biggest in the world so far this year. It did not happen in New York or London. It happened in Brazil's Bovespa.

Bradesco (BBD on the NYSE) and Banco do Brasil will register a profit of R$3.4B in Q2 2009 (USD $1.7B) due to their sale of the Visanet IPO in the Bovespa (Sao Paulo Stock Exchange).

Bradesco will report R$2B for the sale of 10.5% of the shares, and will still keep 28.7% of VisaNet.

As we reported earlier, Bovespa is now the 4th largest stock exchange in the world in terms of market cap.

BBD chart:

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