As LatinFinance went to press, all eyes in the equity
markets were fixed on OGX, the oil and gas startup led by
billionaire entrepreneur Eike Batista. The IPO was set to
launch its roadshow in the last week of the month and heard
growing from an originally targeted $2.0 billion to between
$3.0 billion and $3.5 billion.
With oil at $129 this is an extremely interesting
deal, says a New York hedge fund investor looking at the
deal. At that price [per barrel] they should be able to
easily execute their projects, he adds, referring to
OGXs plan to explore seven offshore blocks it won in a
government auction in December.
This is a sizable deal and it will probably do very
well, says one ECM banker away from the transaction. The
executive adds that large, liquid deals are being asked for by
investors, and should help improve the issuance...
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