Via Varejo, a company controlled by the GPA, operating the Casas Bahia, Pontofrio and Bartira brands, has announced that it has concluded the migration of its shares to the B3 Novo Mercado.
Companies listed in this segment, which represents the highest level of corporate governance, can only have their capital stock composed of voting shares, so-called common shares (ON).
Launched in 2000, the Novo Mercado has established a highly differentiated corporate governance standard since its inception. From its first listing in 2002 it became the standard of transparency and governance required by investors for new stock listings and is recommended for companies wishing to make large offers targeting any type of investor. Complete information on the characteristics of the Novo Mercado is available on the B3 website.
The arrival of Via Varejo to the New Market takes place just a year after the revision of the regulation of this segment, an extensive work that involved B3, market participants and listed companies. In January 2018, the changes that made the Novo Mercado even more robust came into effect. Via Varejo joins other migrations that have occurred over the last two years, reinforcing this segment, which has consolidated itself as the main showcase of the Brazilian capital market.
This move puts us on another level from the point of view of corporate governance and level of transparency,” said Flavio Dias, CEO of Via Varejo. According to Dias, the new governance standard adopted allows for greater attractiveness for investment. “We hope to reach a new investor base that only invests in companies with the highest level of governance, that is, that are part of the Novo Mercado,” he concluded.