Metro announces R$ 2.4 billion in capital market entry
Farm says operation helps to overcome pandemic difficulties
The São Paulo Finance and Planning Department celebrated the result of Metrô in the company’s IPO in the CVM’s B category last week, with acquisition offers six times higher.
The first issuance of debentures, in the amount of R$ 400 million, was anticipated by Panel SA last year.
The takeover offers reached R$ 2.4 billion, a value that, according to the Treasury, will help the company through the difficulties of the pandemic.
In category B, the company follows the SA law, but can only negotiate debt issues that are not convertible into shares and have more lenient transparency rules than those of category A. The move is seen as Metrô’s intention to advance in the market of capital.