São Paulo – Foreign investors accounted for 50.6% of purchases of new offerings on the Brazilian variable income market from January to August. According to data supplied by the Brazilian Financial and Capital Markets Association (Anbima), investors from the United States have secured the largest share, having accounted for 73.6% of total purchases by foreigners in new offerings, followed by European Union investors, with 20.5%.
The remaining 5.6% were purchased by investors from other parts of the world, especially Asia. The continent accounted for 3.8% of foreign buyers, and the Americas – excluding Latin America and the United States – answered to 1.3%. Latin America secured a 0.2% share and Oceania, 0.4%. Brazilian investors accounted for 49.4% of purchases of offerings on the variable income market. Out of those, 39.8% were institutional investors and 9.6% were natural persons.
The Anbima has also disclosed variable income offerings made at the Securities and Exchange Commission (CVM) from January to September. Data pertaining to the types of investors during the period, however, are not available yet. Strongly influenced by Petrobras’ fundraising operation, issuances reached 144.7 billion reals (US$ 86.3 billion) until September, according to the association. Petrobras accounted for 120.361 billion reals (US$ 71.8 billion).
Discounting the oil company’s operations, offerings have totalled 23 billion reals (US$ 13.7 billion), which still represents growth over the same period of 2009, when the figure was 21.9 billion reals (US$ 13 billion). There was growth of 10.9%. “We are almost matching the total figure recorded last year, which was 26 billion reals (US$ 15.5 billion),” said the vice president of the Anbima, Alberto Kiraly. The data include initial public offerings (IPO), which take place whenever a company becomes listed, and follow-on offerings, which are new offerings by an already listed company, as was the case with Petrobras.
After the oil and gas industry, the sector with the second highest share in offerings up until September was the financial sector, at 3.6%, followed by civil construction, at 3.6%, and chemicals and petrochemicals, at 1.9%. New offerings for this year are being considered by the CVM and the Anbima (through an agreement with the CVM). Companies that have applied for offerings include Sonae Sierra, HRT Participações em Petróleo, Karoon Petróleo e Gás and LPS Brasil Consultoria de Imóveis.
*Translated by Gabriel Pomerancblum
