The Brazil IPO market: Accessing the capital markets through a variety of alternatives

The Brazil IPO market has been extremely active – since the beginning of the year, over 40 companies have registered initial public offerings (IPOs) or follow-on equity offerings with the Brazilian Securities Exchange (CVM).

When we speak of the "Brazil IPO market," however, it can mean a number of different things: local Brazilian market offerings, IPOs, and follow-on offerings registered with the CVM and offered and sold to investors outside of Brazil as Rule 144A and Regulation S offerings, American Depositary Receipt offerings (ADRs), and Brazilian Depositary Receipt offerings (BDRs). These developments have even opened the Brazilian local market to offerings from non-Brazilian issuers domiciled in other Latin American countries.

This panel discussion will focus on these trends, exploring the interaction between local Brazilian equity offerings and the international capital marketplace. In particular, the following topics will be discussed:

  • An overview of the applicable securities law, both in the U.S. and Brazil, applicable to dual offerings.
  • A detailed dive into the process of dual offerings and interaction between U.S. and Brazilian commercial and legal teams.
  • An explanation of BDRs and their comparison to ADRs.
  • Recommendations as to what approaches work best for which types of issuers and across which sectors.

This webinar is being hosted by Hogan Lovells and Demarest Advogados.

Click here to request the webinar recording and materials

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