A Roman Catholic Church charity group serving needy people in Rio de Janeiro will sell “shares” on the city’s stock exchange to pay for its charity work, Bloomberg news reports.
Banco da Providencia will ask investors to contribute to the group through the stock exchange – and in return receive a single symbolic share and an annual report on how their money was spent.
The sale will help the group raise money to support its efforts to serve poor children, ex-prisoners, drug addicts and other need groups in the city.
The project also gives people active in the financial markets a chance to invest in the city’s well-being, Bloomberg said.
Power company Light Servicos de Eletricidade SA advised the charity on the project.
For full story, see Northern Light.