October 10, 2018 / 12:23 PM / 2 months ago

Brazil stock exchange operator B3 considers new tech segment -report

SAO PAULO, Oct 10 (Reuters) - Brazilian stock exchange operator B3 SA is studying creation of a specific segment for technology stocks to counter a wave of initial public offerings by Brazilian companies abroad, paper Estado de S. Paulo reported on Wednesday, without saying how it obtained the information.

Recently, Brazilian tech companies have chosen to list in New York instead of Sao Paulo, to take advantage of higher valuations than in Brazil, where investors often assess such firms as they would more traditional telecommunications businesses.

In January, Brazilian credit card processor PagSeguro Digital Ltd raised $2.7 billion in a New York IPO, and Brazilian learning systems company Arco Platform Ltd raised $220 million in a New York IPO.

Earlier in October, Brazilian credit card processor StoneCo Ltd filed for an IPO on New York’s Nasdaq.

B3 did not immediately respond to a request for comment.

Reporting by Gram Slattery; Editing by Steve Orlofsky

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below