National Bank for Economic and Social Development (BNDES) could once again subscribe to shares of companies in an attempt to stimulate the listing of companies in the stock market and boost the growth of smaller companies with potential for development, bank president Dyogo Oliveira said. Thursday.
The development bank will be able to subscribe for shares of privately held companies wishing to list paper in the stock exchange and is willing to participate in the limit of up to 15 percent of each operation. “In this case, there is no limit on the company’s revenue for the BNDES to follow,” Oliveira told reporters.
Oliveira also said that the bank could subscribe for shares of smaller companies, but in this case, the company can only have sales between 90 million and 1 billion reais a year. The bank’s participation in these operations could reach up to 30 percent.
The strategy was approved this week by the bank’s board.
BNDES has not participated in a share issue since 2015, Oliveira said. “They are companies with growth potential, technological content, ability to aggregate knowledge in the country. There is no sectoral vision and the concept is of company development and companies that can be leveraged,” said the bank’s president, who will be replaced by Joaquim Levy in the government of Jair Bolsonaro.