Advent Cashing Out of Cetip

Advent Cashing Out of Cetip

Equity

Cetip, the Brazilian fixed income and derivatives depository and clearing house, is looking to raise around BRL1.0bn in its IPO, scheduled for October 26. The offering of 59m secondary shares can be increased by an 8.8m greenshoe. The company has set a broad price range of BRL13.00-BRL17.00. At the top end, proceeds could come in at BRL1.2bn, while at BRL13.00, the deal size would only be BRL881m, or $518m at Tuesday’s exchange rate. At the BRL15.00 midpoint, Cetip’s total market cap, using the

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