Brazilian Price disconnect

Neoenergia

Market Cap: R$40.7b

Generates, transmits, distributes, trades in, and commercializes electric energy in Brazil.

Alupar Investimento

Market Cap: R$12.1b

Engages in the transmission, generation, and commercialization of energy in Brazil, Colombia, Peru, and Chile.

JHSF Participações

Market Cap: R$8.4b

Engages in the real estate business in Brazil and internationally.

Azzas 2154

Market Cap: R$4.2b

Engages in the development and marketing of women's, men's and children's footwear, handbags, accessories, and clothing in Brazil and internationally.

Petroreconcavo

Market Cap: R$4.2b

Engages in the exploration and production of oil and gas extraction in Brazil.

Empreendimentos Pague Menos

Market Cap: R$3.9b

Engages in the retail sale of medicines, perfumeries, and personal hygiene and beauty products in Brazil.

Unifique Telecomunicações

Market Cap: R$2.9b

Provides telecommunications services in Brazil.

Cruzeiro do Sul Educacional

Market Cap: R$2.2b

Provides education services in Brazil.

Ânima Holding

Market Cap: R$1.6b

Offers education services in Brazil.

Trisul

Market Cap: R$1.4b

Engages in the construction and development of real estate properties in Brazil.

Mitre Realty Empreendimentos e Participações

Market Cap: R$418.9m

Develops, constructs, and sells residential and commercial real estate properties for middle-class and upper middle-class customers in Brazil.

Minupar Participações

Market Cap: R$297.5m

Through its subsidiaries, engages in the poultry farming business in Brazil and internationally.

Bicicletas Monark

Market Cap: R$180.1m

Manufactures and sells bicycles in Brazil.

Minasmáquinas S/A

Market Cap: R$107.8m

Engages in the vehicle dealership activities in Brazil.