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Nubank has evolved in seven years from a fintech to one of Latin America's biggest credit card issuers, now on the brink of an IPO that could make it the region's largest listed bank. ....
FinanceAnalysis: Bolsonaro s interventionism could be mixed blessing for state insurance IPO Carolina Mandl 5 minutes read Brazil s President Jair Bolsonaro looks on during a ceremony at the Sao Sebastiao neighbourhood in Brasilia, Brazil April 5, 2021. REUTERS/Adriano Machado The first IPO by a Brazilian state-controlled company under President Jair Bolsonaro s government has emerged as a test of whether his penchant for intervening in the running of state-run firms will dampen investor interest in the Brazilian market. The government has already slashed by a third the valuation of Caixa Seguridade, the insurance unit of state bank Caixa Economica Federal, ahead of its planned roughly $1 billion IPO. It will be the government s third such attempt to list the business, after pandemic-related delays. ....
Effects of Bolsonaro’s Intervention in Brazil’s State Insurance Firm IPO: Analysis SAO PAULO – The first IPO by a Brazilian state-controlled company under President Jair Bolsonaro’s government has emerged as a test of whether his penchant for intervening in the running of state-run firms will dampen investor interest in the Brazilian market. The government has already slashed by a third the valuation of Caixa Seguridade, the insurance unit of state bank Caixa Economica Federal, ahead of its planned roughly $1 billion IPO. It will be the government’s third such attempt to list the business, after pandemic-related delays. The IPO comes roughly two months after Bolsonaro ousted the chief executives of state lender Banco do Brasil and oil company Petrobras in separate tussles over a cost-cutting plan and oil prices. Many foreign investors dumped their shares in the days after Bolsonaro seemed to prioritize politics over shareholder returns. ....