Laep IPO Falls Flat

Laep IPO Falls Flat

Equity

Laep Investments, a Brazilian private equity company that holds Parmalat's Brazilian assets, struggled to excite investors at its Monday IPO. The offering, initially peddled as 77.83m BDRs at BRL11.50-BRL15.50, was delayed three days and chopped to a BRL8.50-BRL11.50 range to reflect the less than warm reception by investors. It ended up pricing at just BRL7.50. Several domestic and international accounts LatinFinance spoke to said they were not participating, either because the company was smal

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