A raging pandemic and 5% economic contraction might seem like a poor backdrop for initial public offerings. But Brazil’s IPO market is defying macro gravity with its hottest year since 2007.
Seventeen companies went public as of late September. For patient stockpickers, that could offer ground-floor entry into rising innovative stars. “Brazil has a very strong and thriving new economy,” says Pablo Riveroll, head of Latin American equities at Schroders. “We are focusing on companies that will benefit from the new normal.”
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