Mubadala-backed Brazilian bourse targets 2025 debut

Brazil’s newest stock exchange, which is owned by Abu Dhabi’s Mubadala, is expected to begin operations in the second half of 2025, following a six-month testing phase.

Base Exchange, the operator of the exchange, will initially trade equities, real estate funds and exchange-traded funds (ETFs) through its own clearing and settlement structure, Reuters reported, citing CEO Claudio Pracownik.

The exchange plans to expand its services to include futures and derivatives trading, Pracownik said, adding that the initial focus will be on companies already traded on Sao Paulo’s Bovespa (B3) stock exchange.

The new stock exchange will be based in Rio de Janeiro and has been backed by the city’s mayor Eduardo Paes, who has approved reducing service tax on stock exchange activities from 5 percent to 2 percent.

• Mubadala Capital’s $8.7bn bid to privatise CI Financial
• Mubadala to sell Brazilian port and mining assets
• Mubadala to invest $13.5bn in sustainable biofuels in Brazil

Brazil’s main exchange, B3, currently lists less than 500 companies and has not listed an initial public offering (IPO) in three years, the Reuters report said.

In March, Bloomberg reported that a wholly owned unit of Mubadala was planning to launch a stock exchange through Americas Trading Group SA, which it acquired in 2023.