After announcing that it had signed a sponsorship deal with Palmeiras, the company saw its shares skyrocket in price and its market value rise by more than R$ 15 million on the stock exchange.
On March 26th, the Palmeiras has announced a new sponsor for the youth categories of the club, the Fictor Group. The company also prints its brand on the back of the uniforms of the Alviverdes men's and women's professional teams.
The million-dollar partnership will benefit the coffers of the Palmeiras the sum of R$ 25 million/year. But the profit won't just be for the club; in just 24 hours after the partnership was announced, Fictor Alimentos saw its market value rise from R$ 91.4 million to R$ 107.1 million.
The increase of R$ 15.7 million is more than half of the company's sponsorship deal with the Palmeiras and corresponds to 62.7% of the contract value. The total amount could reach R$ 30 million, depending on the bonuses for achieving goals for the club.
PRESENTATION OF PALMEIRAS' NEW SPONSOR, THE FICTOR GROUP
The million-dollar partnership will benefit the coffers of the Palmeiras the sum of R$ 25 million/year. But the profit won't just be for the club; in just 24 hours after the partnership was announced, Fictor Alimentos saw its market value rise from R$ 91.4 million to R$ 107.1 million.
The increase of R$ 15.7 million is more than half of the company's sponsorship deal with the Palmeiras and corresponds to 62.7% of the contract value. The total amount could reach R$ 30 million, depending on the bonuses for achieving goals for the club.
PRESENTATION OF PALMEIRAS' NEW SPONSOR, THE FICTOR GROUP
"The passionate participation of the Palmeiras generated, in a single day, an income corresponding to more than half of the total value of the annual sponsorship"said André Vasconcellos, Director of Strategy, Planning and Investor Relations at Fictor.
After the announcement of the new sponsor, the ordinary shares of Fictor Alimentos (FICT3) rose by 17.18% according to the publication BM&C News, who reported that the company's shares were quoted at R$ 4.57 a unit.
For Vasconcellos, the sponsorship should generate greater visibility for the Fictor brand and thus boost it on the publicly traded market: "This announcement will make FICT3 shares increasingly well-known, not only to fans of the Palmeiras but for the rest of Brazilians."
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