B3 provides data for research on ‘insider trading’ in Americanas

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CVM evaluates whether there was use of privileged information with the retailer’s shares after an accounting scandal of R$ 20 billion. Lojas Americanas unit, in Sorocaba (SP), closed after hours Eduardo Ribeiro Jr./g1 The chief executive of B3, Gilson Finkelsztain, said this Tuesday (17) that the company is providing data to help the Securities Commission (CVM) to determine whether there was use of privileged information with Americanas shares. “We are passing on information to the CVM to help [a detectar se houve insider trading]”, Finkelsztain told journalists. The executive said that the rules of the Novo Market, a listing segment with stricter governance rules of which Americanas is a part, do not provide for the exclusion of companies involved in scandals or fraud. “This is an issue that may be discussed in the next reform of the Novo Market rules”, said the president of the stock exchange, noting that there is still no date for this to happen. Before Americanas, another Novo Market company involved in an accounting scandal was the reinsurer IRB Brasil Re, in 2020. The company is still part of the segment. Since Americanas revealed last week an “accounting inconsistency” of BRL 20 billion, the company has already lost more than 80% of its market value on the stock exchange. Finkelsztain said that B3 can exclude Americanas from the Corporate Sustainability Index (ISE), but that will await answers to questions asked by the exchange about the episode. According to him, the focus of the market now should be on adopting me measures to prevent cases like these from happening again. Americanas has already stopped paying interest on the company’s 17th issue of debentures. The CVM already has five cases open against the retailer and against the auditor responsible for the company’s accounts, PwC. From street shop to retail empire: see history of Americanas in the country Planos Finkelsztain said that, despite the low tide of the variable income market, given the cycle of high interest rates that made Brazil close 2022 without a single debut on the stock exchange, there are chance of resuming initial stock offerings (IPOs) this year. He mentioned among the sectors that he sees as having the greatest chance of bringing new companies to the trading floor, those of energy and sanitation, which have been attracting interest from investors, even in the current scenario. “These are more stories of companies with value than high growth,” he said, predicting that new listings could start from April. With a long period without company debuts on the market and with smaller volume in the spot market, B3 has increasingly invested in new lines of business, such as offering data-based solutions, which accelerated with the purchase of Neo technology and Neurotech. In the 12 months up to September, the market infrastructure operator obtained around BRL 500 million in revenues from the sale of data-based solutions. Finkelsztain’s prediction is that the division’s revenues should grow at a double-digit rate annually over the next three to five years.

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