SpaceX debuts on the stock exchange: see how to invest in the company and other shares abroad

People gather to watch a live broadcast with SpaceX CEO Elon Musk on the day of SpaceX's initial public offering (IPO) on the Nasdaq MarketSite in New York
REUTERS/Jeenah Moon
SpaceX, billionaire Elon Musk's rocket, satellite and artificial intelligence company, debuted on the Nasdaq, Wall Street's technology stock exchange, this Friday (12). Valued at around US$1.75 trillion (R$9 trillion), this is the largest initial public offering (IPO) in history.
Faced with high demand, stock exchanges around the world began offering assets linked to the company's shares to investors. In Brazil, B3 makes SpaceX's Brazilian Depositary Receipt (BDR) available this Friday - a certificate negotiated in the country that represents the company's shares abroad. Understand the difference between BDR and shares.
In practice, this means that Brazilian investors will be able to invest in assets linked to the company without having to open an account abroad or carry out international remittances and exchange operations. On the Brazilian stock exchange, SpaceX's BDR will be traded under the code SPCX34.
According to B3, although SpaceX's share in the IPO has an estimated initial price of US$135 (around R$694.95), the BDR will have a parity of 1 to 15 - that is, each share abroad will correspond to 15 BDRs traded on B3. With this, the investor will be able to access the company for a value between R$50 and R$70.
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What is the difference between a BDR and a share?
While the share represents a part of the capital of a company - that is, when purchasing the paper, the investor becomes a partner and may, in some cases, have the right to vote -, the BDR is a securities deposit certificate.
This means that the BDR is an investment negotiated in Brazil which represents shares in companies abroad. In practice, it works like a "receipt": a financial institution buys the share abroad and issues this certificate so that the investor can trade it here, in reais.
As a result, BDRs are subject to both the variation in shares abroad and exchange rate fluctuations - which also impact the price - and the volatility of international markets.
"In the case of technology and growth companies, such as SpaceX, these movements may be even more relevant", says B3 in a note.
See the step by step to invest in a BDR:
Access your brokerage or bank account and enter the platform for buying and selling assets on the exchange (home broker).
Search for the company's trading code (ticker). In the case of BDRs, this code usually has the number "34" at the end.
Choose the number of BDRs you want to buy.
Define the price you want to pay or whether the purchase will be made on the market, when you instruct the broker to buy the asset immediately, at the best price available at the time.
Send the purchase order and confirm the operation. Trading takes place at B3 itself, in reais.
Are there other ways to invest in American companies?
Another alternative for those who want to invest in American companies are ETFs - exchange-traded funds that replicate the performance of a reference index or a sector of the economy.
When purchasing an ETF traded on the Brazilian stock exchange that replicates the S&P 500, one of Wall Street's main indices, for example, the investor makes the transaction in reais and, in practice, starts investing in a group of American companies at once.
See the step-by-step guide for investing in an ETF:
Access your brokerage or bank account and enter the platform for buying and selling assets on the exchange (home broker).
Search for the ETF's trading code (ticker). In Brazil, these codes usually end in "11".
Choose the quantity you want to buy.
Define the price you want to pay or whether the purchase will be made on the market, when you instruct the broker to buy the asset immediately, at the best price available at the time.
Send the purchase order and confirm the operation.
Another option would be to allocate resources in investment funds, which are portfolios managed by professionals and which can contain different assets, including international shares in some cases.
See the step-by-step guide for investing in an investment fund:
Access your account at an investment brokerage or bank.
In the "investment funds" tab, search for portfolios that invest in shares abroad.
Define the amount you intend to invest or the number of shares you want to buy.
Confirm the operation.
⚠ Investment funds may also charge management and performance fees.
It is worth highlighting that both investments involve risk, as they are linked to variable income assets and, therefore, subject to both fluctuations in markets abroad and exchange rate variations.
In addition, investors who want to have investments in specific companies, such as SpaceX, however, presence in ETFs or funds is not guaranteed, as it depends on the composition of the portfolios.

Source: G1