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HSBC Brasil IPO report was a “blunder,” not listing in country

HSBC Brasil IPO report was a “blunder,” not listing in country

The news report on Monday (Feb 22) that HSBC (NYSE: HBC) would consider an IPO of its Brazilian unit HSBC Brasil was a “blunder,” the Brazilian bank’s senior press officer Antonio Seidl told BNamericas, saying that HSBC Brasil will not be listing in the foreseeable future. “In December, HSBC Brasil received a capital injection of US$600mn from its parent company to support the growth of business in 2010,” Seidl said. “This is enough for the moment for our strategy.” Read the full article.

Interested in investing in an IPO in Brazil?

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This entry was posted on Thursday, February 25th, 2010 at 11:37 pm and is filed under Stock & Bond Market News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

Gerdau Raised to ‘Buy’ from ‘Hold’ at Deutsche Bank on Earnings

Gerdau SA, Latin America’s biggest steelmaker, was raised to “buy” from “hold” at Deutsche Bank AG, which said the company’s earnings will probably increase and it has a “positive strategy outlook.”

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Deutsche Bank boosted its one-year price estimate for the company’s American depositary receipts to $19 from $18, according to a research note dated yesterday.

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