{"id":2128,"date":"2025-04-02T19:55:39","date_gmt":"2025-04-02T19:55:39","guid":{"rendered":"https:\/\/ri.fictoralimentos.com.br\/?p=2128"},"modified":"2026-01-06T13:22:34","modified_gmt":"2026-01-06T13:22:34","slug":"ipo-reverso-estrategia-bolsa-valores","status":"publish","type":"post","link":"https:\/\/ri.fictoralimentos.com.br\/en\/ipo-reverso-estrategia-bolsa-valores\/","title":{"rendered":"Reverse IPO: the strategy that is bringing new companies to the Stock Exchange"},"content":{"rendered":"

By Andr\u00e9 Vasconcellos<\/a>, diretor de estrat\u00e9gia, planejamento e rela\u00e7\u00f5es com investidores da Fictor Alimentos S.A.<\/em><\/strong><\/p>\r\n\r\n\r\n\r\n

A Brazilian company in the animal protein sector surprised the market by announcing its listing on the stock exchange using a strategy that is not so common in the country: a \"reverse IPO\". The operation, which consists of acquiring control of an already listed company, followed by a corporate restructuring, allowed the company to access the capital market in a more agile and efficient way.<\/p>\r\n

A precursora daquilo que pode ser uma tend\u00eancia de IPO reverso para o mercado em 2025 foi a Fictor Alimentos S.A.<\/a> (B3: FICT3), mas outras companhias podem trilhar o mesmo caminho nos pr\u00f3ximos meses, j\u00e1 que, em um horizonte de curto prazo, o ambiente para IPOs tradicionais n\u00e3o \u00e9 nada favor\u00e1vel no Brasil. No fim de janeiro, por exemplo, foi a vez da Reag Investimentos S.A. (B3: REAG3) estrear no Novo Mercado da bolsa de valores brasileira.<\/p>\r\n

Vantagens do IPO Reverso na expans\u00e3o<\/b><\/h2>\r\n

The atypical strategy known as a \"reverse IPO\", in addition to speeding up market entry, enables a company to accelerate its expansion plans, focused on inorganic growth through mergers and acquisitions, allowing access to a wider range of financing opportunities, both through debt instruments and through equity<\/i>.<\/p>\r\n

In the case of Fictor Alimentos, the listed company is now seeking to attract the interest of investors who want to participate in the growth of Brazilian agribusiness. The country, which has clear competitive advantages in the sector, attracts attention from all over the world, and the listed company is positioning itself to take advantage of this favorable and promising scenario.<\/p>\r\n

A decis\u00e3o de acessar o mercado de capitais por meio da modalidade de IPO reverso surgiu como uma alternativa mais vi\u00e1vel em um contexto de desafios para as ofertas p\u00fablicas iniciais, que minguaram nos \u00faltimos anos. A \u00faltima vez que o Brasil viu um IPO foi em 2021 e, desde ent\u00e3o, o ambiente macroecon\u00f4mico n\u00e3o tem ajudado a mudar esse quadro.<\/p>\r\n

And with the basic interest rate at 14.25% per year and projections of future increases, it is even more difficult to envision any new IPO this year, even after so many years of \"drought\". The solution for many companies is to look for new ways to make their businesses viable.<\/p>\r\n

Comparativo: IPO Reverso vs. Tradicional<\/b><\/h2>\r\n

The road to traditional IPOs may be difficult. According to a survey by the Elos Ayta consultancy, shares that debuted on the market in 2020 and 2021 have generally fallen in value. Considering the median return, they fell by 54.6% by the end of 2024.<\/p>\r\n

Dados mostram que muitas empresas que abriram capital nos \u00faltimos anos t\u00eam enfrentado dificuldades, impactadas justamente pelas altas taxas de juros. A nova estrat\u00e9gia de Reverse IPO<\/b>, por sua vez, oferece um caminho mais r\u00e1pido e com custos reduzidos para acessar o mercado de capitais.<\/p>\r\n

A Fictor Alimentos \u00e9 um exemplo de quem j\u00e1 colhe os frutos dessa estrat\u00e9gia inovadora. No acumulado dos \u00faltimos dois meses, as a\u00e7\u00f5es da companhia destoaram completamente do setor e do mercado em geral, apresentando uma valoriza\u00e7\u00e3o impressionante e uma redu\u00e7\u00e3o dr\u00e1stica nas posi\u00e7\u00f5es vendidas (ou seja, baixa importante nas opera\u00e7\u00f5es \u201cshorteadas\u201d). Isso mostra que o mercado acredita que a tend\u00eancia \u00e9 de alta e que n\u00e3o h\u00e1 d\u00favidas relevantes sobre o desempenho futuro da companhia.<\/p>\r\n

Resultados da estrat\u00e9gia da Fictor<\/b><\/h2>\r\n

Uma compara\u00e7\u00e3o com outros investimentos durante 2024 comprova o brilho de teses de aquisi\u00e7\u00f5es estrat\u00e9gicas via IPO reverso: apenas no m\u00eas de dezembro, as a\u00e7\u00f5es FICT3 valorizaram-se 121,43%, mais do que dobrando de valor no \u00faltimo m\u00eas do ano. Para comparar, em segundo lugar ficou o \u00edndice BDRx, que resume a valoriza\u00e7\u00e3o dos BDRs, a\u00e7\u00f5es de empresas internacionais listadas na B3. O BDRx avan\u00e7ou 4,64%, apesar da alta de 2,29% do d\u00f3lar Ptax naquele m\u00eas.<\/p>\r\n

The comparison with 2024 is also valid: over the whole of last year, these securities appreciated by 314,79%. This advance was almost double the gains seen in Bitcoin, which advanced 184% in the period, driven by optimism at the expectation of regulatory loosening by the new US government.<\/p>\r\n

The \"reverse IPO\" has emerged as a viable alternative for private companies facing difficulties in meeting traditional stock exchange listing requirements. Although this model offers advantages such as faster access to capital and reduced operating costs, it is essential that companies carefully evaluate the pros and cons before opting for this route.<\/p>\r\n

Another important benefit is greater control over the price of the shares. In a conventional IPO, the company's shares are offered to the public in a pricing process that can be influenced by various external factors, such as market conditions and investor demand. In the \"reverse IPO\", the corporate process offers a greater level of control over the conditions of the operation and the price of the shares. This reduces the chances of excessive volatility in the value of the shares shortly after trading begins, which is a common risk in traditional IPOs, especially in periods of market uncertainty.<\/p>\r\n

This factor also makes the \"reverse IPO\" a safer alternative for greater democratization of the capital market, especially for smaller companies in emerging markets, which may not have the same level of stability as large corporations when carrying out a traditional IPO. The trend is for more and more companies to adopt this strategy to enable them to enter the capital markets. All that remains is to closely monitor this movement and its impact on the national scenario.<\/p>\r\n\r\n\r\n\r\n

Original article in Economia SP<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Por Andr\u00e9 Vasconcellos, diretor de estrat\u00e9gia, planejamento e rela\u00e7\u00f5es com investidores da Fictor Alimentos S.A. Uma empresa brasileira do setor de prote\u00ednas animal surpreendeu o mercado ao anunciar sua entrada na bolsa de valores por meio de uma estrat\u00e9gia n\u00e3o t\u00e3o comum no pa\u00eds: um \u201cIPO reverso\u201d. A opera\u00e7\u00e3o, que consiste na aquisi\u00e7\u00e3o do controle […]<\/p>\n","protected":false},"author":4,"featured_media":2941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[40,23],"tags":[],"class_list":["post-2128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economia-sp","category-noticias"],"acf":[],"_links":{"self":[{"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/posts\/2128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/comments?post=2128"}],"version-history":[{"count":4,"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/posts\/2128\/revisions"}],"predecessor-version":[{"id":2942,"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/posts\/2128\/revisions\/2942"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/media\/2941"}],"wp:attachment":[{"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/media?parent=2128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/categories?post=2128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ri.fictoralimentos.com.br\/en\/wp-json\/wp\/v2\/tags?post=2128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}