Understanding Affiliated Companies and the Brazilian Stock Exchange (B3)

André Gonçalves de Freitas

Hatched by André Gonçalves de Freitas

Jun 19, 2024

3 min read


Understanding Affiliated Companies and the Brazilian Stock Exchange (B3)


In the world of finance, the concept of affiliated or subsidiary companies plays a crucial role. These companies, known as "sociedades coligadas" in Portuguese, are characterized by one company holding a stake of 10% or more in the capital of another company without controlling it. This article aims to shed light on the concept of affiliated companies and their significance in the Brazilian stock exchange, commonly referred to as B3.

Exploring Affiliated Companies:

Affiliated companies, also known as filiadas, are an essential part of the corporate landscape. They represent a form of business relationship where one company has a significant ownership interest in another, while still maintaining separate legal entities. The defining factor is that the controlling company does not have full control over the affiliated company, but rather exercises influence through its ownership stake.

Understanding the Brazilian Stock Exchange (B3):

The Brazilian Stock Exchange, or B3, is a key player in the country's financial market. It is responsible for facilitating the trading of stocks, bonds, and other securities. As an investor, understanding the dynamics of B3 can provide valuable insights into the performance and potential of affiliated companies. The stock exchange serves as a platform for companies to raise capital and offers investors the opportunity to buy and sell securities.

The Connection between Affiliated Companies and B3:

The relationship between affiliated companies and B3 is symbiotic. Affiliated companies often choose to go public and list their shares on the stock exchange to attract investors and raise funds for expansion. This decision allows them to tap into the liquidity and credibility offered by B3. On the other hand, B3 benefits from an increased number of listed companies, enhancing its reputation as a leading stock exchange.

The Importance of Affiliated Companies for Investors:

For investors, affiliated companies present unique opportunities. By studying the ownership structure and understanding the relationship between affiliated companies, investors can gain insights into the potential performance of both companies. A significant stake in an affiliated company can indicate a long-term commitment from the controlling company and may suggest a positive outlook for the affiliated company's prospects.

Actionable Advice for Investors:

  • 1. Analyze Ownership Structure: Investigate the ownership structure of affiliated companies to identify any controlling entities and their influence. This analysis can help gauge the level of commitment from the controlling company and the potential impact on the affiliated company's growth.
  • 2. Monitor News and Financial Reports: Stay updated with the latest news and financial reports of both the controlling and affiliated companies. Changes in ownership, strategic decisions, and financial performance can provide valuable insights into the future prospects of the affiliated company.
  • 3. Diversify Your Portfolio: Consider adding shares of both controlling and affiliated companies to your investment portfolio. Diversifying across different sectors and ownership structures can mitigate risks and potentially enhance returns.


Affiliated companies are an integral part of the corporate landscape, driving growth and creating opportunities in the financial market. Understanding the relationship between affiliated companies and the Brazilian Stock Exchange (B3) can provide investors with valuable insights. By analyzing ownership structures, monitoring news and financial reports, and diversifying portfolios, investors can make informed decisions and potentially benefit from the symbiotic relationship between affiliated companies and B3.

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