Company debuted today on B3 after change in control of Atom Participações
There's a new stock on the B3 this Thursday - but it's not exactly a new listing. Fictor Alimentos (FICT3) began trading on the Brazilian stock exchange through a reverse IPO, which is when a closed company buys a listed company. The target was a company that trained financial market traders. But the newcomer wants to attract those interested in Brazilian agribusiness.
Fictor Alimentos is the result of the purchase of control of Atompar - which was already listed on B3 and belonged to the founders, Carol Paiffer and Joaquim Paiffer, and to Exame magazine - by two other holding companies, Grupo Fictor and Aqwa (formerly Conquest). Headed by Rafael GóisThe Fictor group has businesses that range from farming to finance. It is an investor, for example, in Dr. Foods, which manufactures pet food, grain trading company Vensa and payment company FictorPay. Aqwa also reports having investments linked to agriculture, such as peanut and oil production.
Together, the holding companies created a holding company to invest in agribusiness companies. According to André VasconcellosAccording to the director of strategy, planning and investor relations at Fictor Alimentos, the company will evaluate businesses under financial stress, such as companies in judicial reorganization, bankruptcy proceedings, without cash flow or working capital. The timing seems right, as the slowdown in agribusiness in recent months has led to an increase in the number of RJ requests in this area.
In these transactions, what usually attracts interested parties are tax credits. But, according to the executive, Fictor's bet is also to help with the restructuring and give scale with the shareholders' experience in this market. Fictor should remain pre-operational until the beginning of the year, when it intends to complete the composition of the executive team, and have acquisitions by the end of the first semester. Among the areas of immediate interest are poultry and fish production operations.
Despite not being in a hurry for the M&As, the company wanted to have the structure ready and chose to do it in a way that also seemed more economical and efficient. "The reverse IPO is a natural path when you have a challenging crop in the market. This movement should be a trend in the coming years," says Vasconcellos, who is also vice-president of the board of directors of the Brazilian Institute of Investor Relations (Ibri) and was financial director of Rio Securitização.
The position of CEO and chairman of the board of Fictor Alimentos is held by Góis, the group's co-founder. In October, the company announced a new board of directors, made up of Phillippe Rubinifrom the Fictor group, Maurício Dutra, from the real estate company Alpha Business, and Márcia Campos, who is an independent member.
The company had already rung a symbolic bell on B3 at the beginning of the month. Today, at the ticker's debut, the small cap rose 2% and has a market value of just R$ 100 million. The company has not detailed whether it plans to raise funds via a follow-on.
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