Ms. Moraes of JPMorgan said one of her biggest concerns was “the political volatility
in Brazil, which could delay investment decisions by companies and investors.”
Still, she and others said recent developments offered reasons to be hopeful, in particular the return of foreign investors to recent stock offerings.
“The market has been starving for equity for so long,” said Patricia Moraes, the head of banking in Brazil for JPMorgan, who, like
the other bankers quoted in this article, would speak only about the state of the market and not about any specific I. P.O.
Cautious Optimism in Brazil as Appetite Returns for I. P.O.s -
By VINOD SREEHARSHAMARCH 16, 2017
RIO DE JANEIRO — The three-year drought of initial public offerings in Brazil is finally
starting to dissipate, giving hope to investors from São Paulo to New York and Boston.
“I don’t think that most foreign investors will start diverting a large chunk of their resources into Brazil until we have the social security reform approved
and especially until we start showing some growth in G. D.P.,” said Mr. Ejnisman of Banco Bradesco BBI.
“We’ve seen some respectable foreign investors that were not in the market last year come back.”
A version of this article appears in print on March 17, 2017, on Page B1 of the
New York edition with the headline: Trickle of I. P.O.s in Parched Brazil.