Homebuilder Resurfaces with Small Cap IPO

Homebuilder Resurfaces with Small Cap IPO


Direcional Engenharia has refiled IPO documents after months of radio silence that led many to believe the company had given up on a deal. If priced, Direcional’s IPO will be the smallest offering of the past 2 years in Brazil. The company has set a BRL10.00-BRL11.00 range for the sale of 20.7m shares plus a 4.1m share hot issue and 3.1m unit greenshoe. All told, the deal could raise BRL293m if done at the midpoint. That hardly fits the profile of large and liquid issues that have dominated the

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