·3rd Latin American IPO on NYSE in 2006 raises $692 million in proceeds·Brings total number of NYSE listings from Brazil to 34
·NYSE Group’s 4th Latin American airline listing
NEW YORK, March 10, 2006 – The NYSE Group, Inc. on Friday listed its 90th company from Latin America and the 34th from Brazil when TAM S.A. (NYSE:TAM), a leading airline operator, joined its roster of listed companies in an initial public offering that raised $692 million in proceeds.
Headquartered in Sao Paolo, Brazil, TAM S.A. followed in the footsteps of recent Latin American IPOs on the NYSE including Grupo Aeroportuario del Pacífico, S.A. de C.V. (NYSE: PAC), which raised US$870 million on Feb.27, and Ternium S.A. (NYSE:TX), which raised US$543 million on Feb. 1. In 2006 year to date, IPOs from Latin America on the NYSE have raised more than $2 billion.
TAM S.A. is the fourth airline company from Latin America to be listed on the NYSE. The others are Lan Airlines (NYSE: LFL) from Chile, Gol Linhas Aereas Inteligentes (NYSE: GOL) from Brazil and Copa Holdings (NYSE: CPA) from Panama.
The market capitalization of all Brazilian listed companies listed on the NYSE is $300 billion, representing 60% of the total market capitalization of all Latin American companies listed on the NYSE.
In 2006 year to date, the average daily trading volume by Latin American companies on the NYSE reached 38 million shares, with a total average daily dollar value of trading of $1.3 billion.
Click here for a complete list NYSE-listed issues from Latin America.
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