B3 reports 17% rise in recurring revenue, plans first IPO in five years

Brazil’s exchange operator B3 reported a 17% year-on-year increase in recurring revenue for the second quarter of 2026, according to slides published on Wednesday. The company, which operates the country’s primary equity and derivatives exchanges, also announced plans for its first initial public offering in five years.

The Q2 2026 results, presented in an investor update, showed recurring revenue rising to 1.8 billion Brazilian reais from 1.5 billion reais in the same period of 2025. The growth was driven by higher trading volumes and increased demand for B3’s data and technology services, the company said. Total revenue for the quarter reached 2.4 billion reais, up 15% from the prior-year period.

B3 last conducted an IPO in 2021, when it listed shares on the Novo Mercado segment of the B3 exchange itself. The company has not disclosed the size, timing, or target valuation of the upcoming offering. Analysts noted that the planned IPO could provide capital to fund expansion in digital trading platforms and international partnerships.

The exchange operator’s market capitalization stood at approximately 120 billion reais as of the end of Q2 2026, reflecting a 12% increase over the past year. B3’s shares have outperformed the broader Brazilian equity index, the Ibovespa, which rose 8% over the same period.

B3’s revenue growth and IPO plans underscore its ambition to strengthen its position in Latin America’s financial infrastructure amid rising competition from global trading platforms. The company’s data and custody services remain key revenue drivers, with clients including asset managers and fintech firms expanding their use of B3’s infrastructure.

Further details on the IPO are expected to be released in the coming months, pending regulatory approvals and market conditions.