Brazil’s VisaNet Files for IPO

Brazil’s VisaNet Files for IPO

Equity

Brazilian credit card provider VisaNet has filed for an IPO on the Bovespa via the sale of secondary shares held by the banks that own it. Those include Bradesco (39%), BB Investimentos (32%) and Banco Real (14%), with Visa International also owning a 10% stake. Bradesco’s BBI unit will lead the local offering with BB Investimentos, Santander, JPMorgan and Goldman as joint leads. The main comp is Redecard, the Brazilian rival held by Citi, Itau and Unibanco that went public last year via a $2.4b

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