Brasil Insurance Lands Equity at Midpoint

Brasil Insurance Lands Equity at Midpoint

Brazil Equity

Brasil Insurance Participacoes e Administracao has priced a BRL645m IPO, hitting the midpoint of its price range and offering investors a non-commodity domestic growth play. The insurance broker sold 257,850 primary and 219,650 secondary shares, at BRL1,350, the middle of the BRL1,250-BRL1,450 range, according to the CVM. The total includes an extra 95,500 units coming from a 15% greenshoe and half of a 20% hot issue. The selling shareholders in the secondary offering are the Fundo Gulf II inves

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial