Brazilian Small Cap Launches IPO

Brazilian Small Cap Launches IPO

Brazil Equity

Brazil’s Senior Solution has launched an IPO targeting BRL80m ($41m), according to regulatory documents, and is scheduled to price March 6. The IT provider specializing in the financial industry plans to sell 3.4m primary shares and 2.1m secondary shares, at BRL13.50-BRL15.50 each, implying a BRL80m deal at the midpoint. The total assumes the exercise of a 15% greenshoe. A 20% hot issue is also possible. The selling shareholders in the secondary portion include BNDES and private equity fund Stra

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