Gol files Smiles IPO request

Washington DC
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Brazilian low-cost carrier Gol will has filed a request to register the Smiles loyalty programme for an initial public offering (IPO) in Brazil.

The shares are expected to be listed for trading on the BM&FBOVESPA Corporate Governance Novo Mercado, Gol says.

Smiles was acquired by Gol as part of its acquisition of former Brazilian flag carrier Varig.

The carrier has been moving towards an IPO of Gol since last May, segregating the programme as a standalone unit in December and approving plans for a spin-off earlier this month.