On Monday (April 29) GOL and Bovespa are set to celebrate the initial public offering of shares of Smiles S.A., the multi-loyalty company of airline Gol.
Smiles IPO is the 128th member into the Novo Mercado, which is BM&FBOVESPA’s segment for the highest corporate governance standards. The shares are being traded under the ticker symbol SMLE3. Today shares are trading at Bovespa around R$23, and there is growing interest for the stock. This is the fifth IPO in 2013, and BOVESPA expects that there will be about 20 Billion in total capital raised during the year.
Smiles was introduced in 1994 by Varig Airlines, and over time the program has gone through several changes, and in 2007 became GOL’s frequent flyer program, after it acquired Varig’s assets. Smiles today has 9 million members, and more than 150 air industry and non-air industry partners.