Cetip Prices Ambitious IPO at Bottom of Range

Oct 27, 2009

Brazil’s Cetip has priced its IPO at BRL13.00, the bottom of the BRL13.00-BRL17.00 range, raising BRL767m plus a potential additional BRL115m from a greenshoe, according to bankers on it. The 59m share deal was heard subscribed by 1.5x-2.0x and was hit by rough market conditions emanating from the IOF tax, imposed a week...

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