January 1, 2011
Petrobras $70 billion raise was the biggest equity sale ever, though some claim that since the true public market portion was "only" about $20 billion, it is merely the LatAm champ.
There may have been less contentious follow-ons, like Banco do Brasil, or others performing better in the after market. Petrobras was great if you were the government, annoying if you were a minority shareholder. But few could question its significance during an election year for a country that is now firmly on the global investor map.
"The stakes had never been bigger, by a wide margin," says Gregg Nabhan, vice chair of global ECM at Bank of America Merrill Lynch (BAML). "This transcend
Love it or hate it, there was no avoiding the giant, black, viscous elephant in the room of LatAm equity last year.