Gafisa Becomes 32nd Brazilian Company to Join NY Stock Exchange

Brazil Gafisa's Wilson Amaral de Oliveira rings NYSE opening bell

Brazil Gafisa's Wilson Amaral de Oliveira rings NYSE opening bell 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.

NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange LLC (the "NYSE") and NYSE Arca, Inc. (formerly known as the Pacific Exchange).

NYSE Group is a leading provider of securities listing, trading and market data products and services. In 2006, on an average trading day, 2.3 billion shares, valued at US$ 86.8 billion, were traded on the exchanges of the NYSE Group.

The NYSE is the world's largest and most liquid cash equities exchange. On December 31, 2006, the operating companies listed on the NYSE represented a total global market capitalization of US$ 25.0 trillion.

NYSE Arca, Inc. operates the former ArcaEx, the first open, all-electronic stock exchange in the United States, which has a leading position in trading exchange-traded funds and exchange-listed securities.

NYSE Arca, Inc. is also an exchange for trading equity options. NYSE Arca, Inc.'s trading platforms provide customers with fast electronic execution and open, direct and anonymous market access.

NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.

Tags:

  • Show Comments (2)

  • A Brazilian

    Speeky ingreesh prease
    [quote]This deal is so important because it sets up a pipeline where international capital can flow into
    the Brasilian housing market to meet the inevitable increased demand for housing as interest rates fall
    and Brasilian banks increase their mortgage lending. Brasil has already gone a long way in
    developing its domestic market for government debt. News like this is essential to strengthening
    the nascent domestic mortgage market. And, of course, residential construction is a huge jobs generator with positive follow-on effects for the entire economy and especially the working class.[/quote]

    I didnÀ‚´t understand a word of that.

  • conceicao

    This deal is so important because it sets up a pipeline where international capital can flow into
    the Brasilian housing market to meet the inevitable increased demand for housing as interest rates fall
    and Brasilian banks increase their mortgage lending. Brasil has already gone a long way in
    developing its domestic market for government debt. News like this is essential to strengthening
    the nascent domestic mortgage market. And, of course, residential construction is a huge jobs generator with positive follow-on effects for the entire economy and especially the working class.

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Launches Its First Bio Insecticide

Brazil’s  Embrapa Genetic Resources and Biotechnology and the Bthek Biotechnology Company are launching today ...

Brazil’s Patent Breaking Is No Theft, Says Doctors Without Borders

The non-governmental organization, Doctors Without Borders (MSF, Médecins Sans Frontières), denied that a possible ...

Brazil’s Agriculture Hasn’t Been So Bad in Nine Years

According to data released by the Brazilian Institute of Geography and Statistics (IBGE), Brazil’s ...

Brazil Sets US$ 600 Million Apart to Reward Sustainable Agriculture

The Agriculture and Livestock Plan, launched this month by the Brazilian federal government, is ...

Bureaucracy in Brazil: it's not smart to avoid it by greasing hands

Bribing May Be the Rule in Brazil, But It’s Not Smart or Legal

My previous article provided you with a basic understanding of Brazil’s legal system and ...

Brazil’s Auto Show Opens with Futuristic and Thoroughbred Cars

The 24th International Automobile Trade Fair begins today, October 19, in the city of ...

POR AÍ

Meat Place By The newest CBS network star is a young Brazilian actor who ...

Singing Along

In Brazil, children’s songs were performed with no instruments, always in a circle where ...

Venezuela and Russia Are Top Importers of Brazil’s Federal District

Chicken and giblets exports from the Brazilian capital BrasÀ­lia totaled US$ 13.251 million in ...