Rio Stock Exchange Set To Launch In 2025 Backed By Mubadala
(MENAFN- The Rio Times) The Rio de Janeiro Stock Exchange, operated by ATG, is set to begin trading in the latter half of 2025.
Claudio Pracownik, CEO of Americas Trading Group ATG announced that the infrastructure will be ready by the end of 2024, with testing phases starting in early 2025.
This new exchange will list Stocks like Vale (VALE3) and Petrobras (PETR4), similar to the current offerings on B3.
This development follows the enactment of PL 3276/2024 by Mayor Eduardo Paes.
This law reduces the Service Tax (ISS) from 5% to 2% for stock exchange activities, with potential for additional incentives.
The reduction aims to attract businesses and investors, creating a favorable environment for financial operations in Rio.
This move seeks to decentralize financial activities from São Paulo, fostering economic growth and competition.
We anticipate this revival will boost the local economy, generate jobs, and enhance market dynamics.
The planned operations of the Rio Stock Exchange reflect a strategic initiative to diversify Brazil's financial landscape and reinforce Rio's economic stature.
Background
Historically, Rio de Janeiro was home to a stock exchange from 1820 until it merged with São Paulo's in 2002.
Reviving this exchange holds significant importance, aiming to restore Rio as a financial center in Brazil.
The ATG exchange, supported by investments from Mubadala Capital , Abu Dhabi's state fund, showcases strong international confidence in Brazil's financial market.
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