Brazilian companies keep leaving the B3 exchange as Helbor moves to go private
Home builder HBR Realty filed on July 3 to take fellow builder Helbor private and off the B3 exchange. The share-swap offer values Helbor at about 2.52 reais a share, near its market price. Helbor's stock is down about 95% from its 2013 peak near 50 reais.
A growing number of Brazilian companies are pulling out of the B3 stock exchange. According to the Rio Times, home builder HBR Realty filed on July 3 to take fellow builder Helbor private and remove it from the exchange.
The share-swap offer values Helbor at about 2.52 reais a share, close to the company's current market price. Helbor's stock has fallen about 95% from its 2013 peak near 50 reais, underscoring a long slide in the builder's valuation.
The move is the latest example of a broader trend of delistings in Brazil's capital markets. A high-interest-rate environment and thin trading volumes have made staying publicly listed less attractive for many companies.
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