Brazilian Wilson Amaral de Oliveira, CEO of Gafisa S.A., a leading homebuilding company in Brazil, rang the New York Stock Exchange (NYSE) opening bell today, March 16, to celebrate the company's initial public offering on the NYSE. Gafisa, a US$ 1.5 billion corporation, began trading under the ticker symbol "GFA".
"We are privileged to welcome Gafisa S.A. to the NYSE family of listed companies," said NYSE Group, Inc. CEO John A. Thain. "Gafisa is an outstanding addition to the NYSE Group, Inc.'s growing roster of companies from Brazil.
"We look forward to a strong and long term partnership with Gafisa and its shareholders and to providing them with the highest levels of market quality and unsurpassed visibility."
Gafisa S.A. joins other successful Brazilian IPOs on the NYSE including: TAM S.A. (NYSE: TAM), a Brazilian-based international airline company with a market cap of US$ 4.1 billion; CPFL Energia S.A. (NYSE: CPL), a Brazilian energy company with a market cap of US$ 6.5 billion; and Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL), a Brazilian-based international airline company, whose market cap increased by approximately 300% to US$ 5.1 billion since its 2004 listing.
The listing by Gafisa S.A. brings the total number of NYSE-listed companies from Brazil to 32 with a combined market cap over US$ 410 billion. On average, the NYSE Group, Inc. trades US$ 1 billion in Brazilian ADRs per day.
Gafisa is one of Brazil's leading homebuilding companies, focusing on residential markets. Over the last 50 years, the company has been recognized as one of the foremost professionally-managed homebuilders, having completed and sold more than 900 developments and constructed nearly ten million square meters, believed to be more than any other residential development company in Brazil.
Gafisa is one of the best-known brands in the real estate development market, enjoying a reputation among potential homebuyers, brokers, lenders, landowners and competitors for quality, consistency and professionalism.
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