Brazilian Investment Bank BR Partners Relaunches its Initial Public Offering

The bank plans to use the proceeds to expand its loan, capital markets and trading businesses, and its partners are also planning to sell a stake in it. BR Partners will sell 22,750,000 units, which are comprised of one common share and two preferred shares. Depending on demand, the bank may increase the offering by 35%. Brazilian investment bank BR Partners relaunched its initial public offering, planning to raise up to 583.5 million reais ($115 million), a securities filing showed. BTG Pactual, Itau BBA and XP will manage the offering. BR Partners was planning an IPO of up 885.8 million reais, but called it off citing market instability. BR Partners values ethics and transparency in conducting its business and believes that the existence of proper corporate governance is part of its responsibility to society. Senior management is committed to maintain a robust environment of preventive controls, in line with best market practices and international recommendations. The institution’s command is a joint committee, with the final decision being taken by its executive directors through Committees and the Board of Directors Composed by 6 members out of which 2 are independent. The Board of Directors ensures that BR Partners has a good level of governance, in addition to providing great operational agility, which is one of its competitive advantages in the market.