December 13, 2013
Brazilian retailer Via Varejo became the latest Brazilian
equity issuer to fall short of expectations Thursday. The operator of businesses
including the Casas Bahia and Ponto Frio chains had been aiming for more than 3.9
billion reais ($1.22 billion), and raised
2.85 billion in an equity follow-on. Shares priced at 22.00 reais,
7.60 reais below the range.
CVC Brasil Operadora e Agencia de Viagens came below the
range when raising 621 million reais in its IPO
earlier this month. The pat
Via Varejo became the latest Brazilian equity issuer to price a deal below its range. Elections and the World Cup could make for a challenging 2014.