August 29, 2018 / 7:53 PM / a month ago

Brazil may have up to 30 IPOs over the next 18 months: B3 CEO

SAO PAULO (Reuters) - Between 15 and 30 Brazilian companies are preparing the ground for a share offering in the next 18 months, said Gilson Finkelsztain, chief executive officer of the country’s financial exchange operator B3 SA Brasil Bolsa Balcao.

Finkelsztain told Reuters on Tuesday that companies are waiting for market-friendly signs from Brazil’s new president, to be elected in October.

This year, only three new companies listed on B3. More than five Brazilian companies have officially shelved their plans for an initial public offering this year, amid Brazil’s sluggish economic growth and undefined presidential elections.

Last year, Brazil had 10 IPOs that raised more than $5.5 billion in the strongest year for initial public offerings since 2013.

Reporting by Aluisio Alves, Paula Laier and Carolina Mandl; Editing by David Gregorio

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