Smiles Launches IPO, Enlists PE Help

Smiles Launches IPO, Enlists PE Help

Brazil Equity Funds

Gol’s Smiles mileage loyalty program has launched an IPO, aiming to raise more than BRL1bn ($503m), and has hooked private equity firm General Atlantic for a BRL400m commitment. With pricing scheduled for April 25, the Brazilian airline plans a sale of 44m of the unit’s primary shares at BRL20.70-BRL25.80 each, according to a prospectus, meaning a BRL1.03bn sale at the midpoint if a 15% greenshoe is included. A 20% hot issue option is also available. Smiles was due to begin meeting investors Mon

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