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Brasil Travel Launches IPO

Jan 25, 2012

Brasil Travel Turismo e Participacoes has launched an IPO that could reach BRL1.21bn ($683m), setting a February 8 pricing date. The holdco formed in March 2011 for 35 companies involved in travel-related businesses plans to sell 170,000 primary shares and 466,500 secondary shares at BRL1,250-BRL1,650 each, according to regulatory documents. This...

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"The global backdrop has been tough, and the volitile markets should continue. LatAm markets can still end the year in positive territory, but the route by which we navigate to that conclusion could be quite wild."

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