NEW YORK , March 16, 2007 – Today, NYSE Group, Inc. (NYSE: NYX), welcomed the initial public offering of the American Depository Shares of Gafisa S.A. (NYSE: GFA), a leading homebuilding company in Brazil . Gafisa, a $1.5 billion corporation, began trading today under the ticker symbol “GFA”. The company celebrated its NYSE listing at the Exchange today when CEO Wilson Amaral de Oliveira rang The Opening Bell.
Gafisa S.A., a Leading Brazilian Homebuiliding Company, Celebrates its Initial Public Offering on the NYSE|
Gafisa brings NYSE roster of listed companies from Brazil to 32, with a combined market cap of over $410 billion
“We are privileged to welcome Gafisa S.A. to the NYSE family of listed companies,” said NYSE Group, Inc. CEO John A. Thain. “Gafisa is an outstanding addition to the NYSE Group, Inc.’s growing roster of companies from Brazil . "We look forward to a strong and long term partnership with Gafisa and its shareholders and to providing them with the highest levels of market quality and unsurpassed visibility.”
Gafisa S.A. joins other successful Brazilian IPOs on the NYSE including: TAM S.A. (NYSE: TAM), a Brazilian-based international airline company with a market cap of $4.1 billion; CPFL Energia S.A. (NYSE: CPL), a Brazilian energy company with a market cap of $6.5 billion; and Gol Linhas Aéreas Inteligentes S.A. (NYSE: GOL ), a Brazilian-based international airline company, whose market cap increased by approximately 300% to $5.1 billion since its 2004 listing.
The listing by Gafisa S.A. brings the total number of NYSE-listed companies from Brazil to 32 with a combined market cap over $410 billion. On average, the NYSE Group, Inc. trades $1 billion in Brazilian ADRs per day.
About Gafisa S.A.
Gafisa is one of Brazil ’s leading homebuilding companies, focusing on residential markets. Over the last 50 years, the company has been recognized as one of the foremost professionally-managed homebuilders, having completed and sold more than 900 developments and constructed nearly ten million square meters, believed to be more than any other residential development company in Brazil . Gafisa is one of the best-known brands in the real estate development market, enjoying a reputation among potential homebuyers, brokers, lenders, landowners and competitors for quality, consistency and professionalism.
About NYSE Group, Inc.
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange LLC (the “NYSE”) and NYSE Arca, Inc. (formerly known as the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. In 2006, on an average trading day, 2.3 billion shares, valued at $86.8 billion, were traded on the exchanges of the NYSE Group.
The NYSE is the world’s largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies’ common stock and other securities. On December 31, 2006 , the operating companies listed on the NYSE represented a total global market capitalization of $25.0 trillion.
NYSE Arca, Inc. operates the former ArcaEx®, the first open, all-electronic stock exchange in the United States , which has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca, Inc. is also an exchange for trading equity options. NYSE Arca, Inc.’s trading platforms provide customers with fast electronic execution and open, direct and anonymous market access.
NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.
For more information on NYSE Group, go to: www.nyse.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on NYSE Group’s current expectations and involve risks and uncertainties that could cause NYSE Group’s actual results to differ materially from those set forth in the statements. There can be no assurance that such expectations will prove to be correct. Actual results may differ materially from those expressed or implied in the forward-looking statements. Factors that could cause NYSE Group’s results to differ materially from current expectations include, but are not limited to: NYSE Group’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Group’s Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Group that the projections will prove to be correct. NYSE Group undertakes no obligation to release any revisions to any forward-looking statements.