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Alupar Launches IPO

Apr 2, 2013

Brazil’s Alupar Investimento has launched an IPO, targeting more than BRL900m ($448m) and pricing April 22. The holding company for electric transmission and generation operations, familiar to Brazil’s domestic debt markets, plans to sell 40m primary units at BRL18.50-BRL21.50 each, according to offering documents, indicating a BRL920m sale at the midpoint. The total assumes a 15% greenshoe. A 20% hot issue...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management