TIM Set for Follow-on

TIM Set for Follow-on

Brazil Equity

Brazilian wireless operator TIM is scheduled to price today an equity follow-on that could reach BRL1.97bn ($1.04bn) in size, and would be the first Brazilian equity deal since July. The telecom plans to sell 219m shares, including a 15% greenshoe. With parent Telecom Italia exercising its rights to 66.94% of the sale, relatively little will hit the market, and investors and bankers away from the deal don’t expect much haggling over price. Shares closed Monday at BRL9.00, almost flat to the BRL9

Already have an account?

Free trial

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

Free Trial