Endangered bonuses 
Wednesday, 2010/09/08
STORIES
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Edition: Year 6 | # 62 | October/2008 | Page 08 to 09 
| Anbid initiates partnership for analysis of public offerings |
Marcelo Loureiro (E) 
|
The covenant between the Brazilian National Association of Investment Banks (Anbid) and the Brazilian Securities and Exchange Commission (CVM), signed in August, came in to effect on September 16. Votorantim Finanças, the controlling holding of Grupo Votorantim’s financial department, protocoled the first request for registration of a public offering under the new system to issue R$ 500 million in debentures not convertible into shares. The data are from the Public Offering Control (COP) system, which allows operation tracking and can be accessed through the website http://cop.anbid.com.br. Anbid analyzed the operation’s documents and sent Votorantim a requirements report. Up to that stage, all deadlines had been met. The covenant’s main purpose is to shorten deadlines and reduce costs for issuers willing to obtain funding in the capital market. After going through Anbid, the offerings are analyzed by CVM, that then has seven business days to analyze the operation and may also request changes to the documents. While in the regulator’s care, the operations will remain visible in COP. |
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