Brazilian ECM has surged this year, thanks to a belief in president Jair Bolsonaro’s plans for the economy. Brazilian corporates have taken advantage of investor excitement to raise more than $15.4bn in equity financing over the first three quarters of 2019. But this could be just the start, with a wave of privatisation also possible.
The volume of follow-on activity in Brazil over the first three quarters of the year is up an astonishing 1,178% when compared with the same period last year.
Brazilian ECM as a whole is up 414% from the same period last year. The surge in issuance has come