Brazil Oil Play Hits Top With IPO

Brazil Oil Play Hits Top With IPO

Equity

Brazil oil and gas startup OGX Petroleo e Gas Participacoes has priced at the top of the range its widely anticipated $3.4bn equivalent IPO, say people close to the Bovespa transaction. OGX planned to sell 4.95m shares at a range of BRL883-BRL1,131 and it is expected to emerge this morning with final terms at a price per unit of BRL1,131. The deal appears to have succeeded despite a 1.45% decline in the Bovespa Wednesday and general nervousness on the equity buyside. Oil pushing $140 helps, and

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