Nubank held its IPO (Initial Public Offering) on the New York Stock Exchange (NYSE) in 2021, becoming one of the largest global fintechs to debut in the American market. Additionally, XP Inc. established itself as a financial platform for international investors, expanding its reach among market participants in the United States.
On the other hand, companies like StoneCo and VTEX showed volatile performance after going public, reflecting internal reviews and fluctuations in the global macroeconomic environment. This behavior highlights the challenges Brazilian companies face in maintaining stability and appreciation amid external conditions and investor expectations.
Access to the American market requires strict discipline in corporate governance, as well as strategic alignment with the profile of local investors. Thus, it is necessary to sustain the company’s value through transparent communication, robust free float planning, and solid board structures that support market demands.
The United States market houses the largest base of institutional investors in the world, who evaluate aspects such as consistent growth, transparency of information, and a clear path to profitability. Therefore, Brazilian companies need to meet high standards to ensure trust and attract this significant capital base.
Furthermore, the Securities and Exchange Commission (SEC), the United States regulatory agency, imposes strict requirements for the disclosure of quarterly reports and compliance with accounting standards. These demands are significantly higher than those companies face in their domestic processes, increasing the complexity level of listing abroad.
Another crucial point for maintaining high valuations in the international market is to hold market leadership in its category. This ensures a perception of competitive strength among investors and contributes to greater financial stability. Finally, stock liquidity and shareholder base diversity are fundamental to reducing risks and increasing market interest.
The next steps for Brazilian companies seeking to go public in the United States include improving their governance practices and ensuring consistent transparency. The completion of the process still depends on compliance with SEC requirements and adaptation to the dynamics of the American market, which remains one of the main destinations for global fundraising.
