Brazil's leading stock exchange, Bovespa, surged to a record day after it was listed for the first time. In just one day the stock rose 51%. In the morning the stock exchange was listed at 23 reais, but by days end it was at 34 reais. All this buzz, 288 million shares were sold, generated an astonishing $3.7 billion dollars in IPO. The amazing cash flow promises to boost the local currency and economy.
Bovespa has seen its profits jump 71% in just one year. The main reason for this, besides the first listing, was also the immense interest from oversea investors. The two most notable stakeholders were Brazil's Grupo Itau and Grupo Santander Banespa.
Information found at BBC News
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