Bovespa BDR Filings Soar in August

No fewer than five non-Brazilian companies have filed to list their shares on the Bovespa since the start of August. That’s compared to eight in the rest of 2007, and three in 2006. In August, Campos Verdes, Sul América, Sistema Nacional Brasileiro de Educação, Laep and Brazilian Finance & Real Estate all put in papers for BDR deals. Brazil’s market is becoming a regional hub for non Brazilians looking to tap into the country’s liquid market, such as Argentina’s Banco Patagonia. For Brazilian businesses that want to incorporate offshore in places like Bermuda, such as Tarpon Investments, GP Investments and Cosan, but keep their liquidity in the country, it is also attractive.