July 01 2009
EQUITY: VisaNet Draws Global Buyers
A flurry of offerings that could be worth upwards of 12 billion reais has gripped Brazil, whose stock market rose 40% in the first five months. Increasingly liquid dedicated investors stand ready to jump back into new issues provided they are large and liquid. Even Mexico and Chile are starting to see signs of life.
As LatinFinance went to press, buysiders were poring over VisaNet’s IPO prospectus in anticipation of a June 25 pricing. The up to 9.7 billion reais deal is LatAm’s first major IPO since Mexico’s Genomma went public in mid-June 2008, raising $224 million. Size and brand name were driving significant interest from a variety of investors.
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