Brazilians close ECM year on low note

Brazilians close ECM year on low note

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

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