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BTG Upsizes IPO

Apr 25, 2012

BTG Pactual has priced a BRL3.66bn ($1.95bn) IPO, pushing on size, but not on price. With demand of more than 3x, the Brazilian bank used 75% of an overallotment option, while keeping the price in the middle of the range. Though sure to be one of the standouts in LatAm this year, it is not clear that the transaction is seen having a reviving affect on the country’s new issuance prospects going forward. “With demand of 3x, they could have...

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